OSC Inks VLCC Affreightment Deal with Shell
- Business & Finance
Oman Charter Company (OCC), a subsidiary of Oman Shipping Company (OSC), has entered into a contract of affreightment (COA) for its very large crude carriers (VLCCs) with Shell International Eastern Trading Company (Shell) for three years.
The contract grants Shell access to VLCCs operated by OCC for crude oil cargo transportation requirements and provides OCC with the cargo base it needs to support its commercial operations.
The deal comes on the back of the earlier signed charter agreement between the parties for ten 50,000 dwt medium range tankers tankers.
“We are pleased to associate ourselves once again with Shell,” Tarik Al-Junaidi, Chief Executive Officer of Oman Shipping Company, said.
“For more than 50 years, Shell in Oman has been committed to meeting the country’s growing energy demand in a socially and economically responsible manner. We look forward to strengthening this well-established relationship through this agreement with Oman Shipping Company (OSC),” Mike Muller, Vice President for Trading and Supply Crude, Shell International Trading and Shipping Company, said.