Over 110 Gigs for Oman Shipping Company’s VLCC Chartering Desk

  • Business & Finance

One year into operation, Oman Shipping Company’s (OSC) VLCC commercial chartering desk has secured over 100 fixtures with world oil majors, the company announced.

SC General Manager Commercial, Tankers & Gas, Debasish Mohapatra said that the spot chartering desk has concluded more than 110 fixtures with a total of 24 charterers and involving more than 15 brokerage companies since its launching in May 2017.

The charterer list includes Reliance, Essar, BP, GS Caltex, S-Oil, Indian Oil, Hyundai Glovis and Kuwait Petroleum, and traders such as Trafigura, ST Shipping, OTI and Socar.

Mohapatra said OSC’s decision to set up the chartering desk followed a move to withdraw its entire VLCC fleet from the VL8 pool based in Singapore, back in December 2016.

“In March 2017 we took full commercial control of our VLCC fleet which was previously outsourced in a joint venture. As part of our new strategy we signed a Contract of Affreightment with Shell International Eastern Trading Company, a Shell subsidiary, for a period of three years. This gave us a substantial cargo base for the entire fleet to kickstart the operation,” he added.

“However, we have continued to drive momentum and experienced substantial growth in the last 12 months. We now cater to a broad portfolio of oil majors and crude traders in the world. Around 65pc of our VLCC fleet is dedicated to delivering on the Shell account with the remaining 35pc is employed by other major crude players.”

OSC has 15 vessels managed commercially through its subsidiary Oman Charter Company (OCC). Its fleet of 50-strong ships also includes product tankers, gas carriers, bulkers, containerships and general cargo vessels.

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