Oman Shipping Company (OSC) achieved profits of around US $180 million profit in 2015, Tarik bin Mohammed Al Junaidi, chief executive officer of the company has indicated in an interview with Oman News Agency (ONA). This was largely the result of positive trends in the oil tanker charter market.
OSC, which currently operates a fleet of 47 vessels, is investing in new ships, and five additional vessels will be delivered by the end of 2016. Its business will be strengthened by a recently signed deal with Shell International to provide ten vessels to transport oil products for up to 10 years. The company has also launched a container feeder service this year, linking ports in Oman with the UAE.