Oman Shipping Company and Standard Chartered Bank have announced a financing deal worth US$ 35 million that is claimed to be the first of its kind in the region. This new 8-year facility, which relates to two ultramax class dry bulk carriers, Jabal Shams and Jabal Al-Mishi, is ground-breaking as it is linked to key sustainability targets, in line with United Nations’ sustainable development goals. The credit margin under the facility will be adjusted based on Oman Shipping Company’s progress against sustainable targets.
Said Al Mawali, CEO, Oman Shipping Company and Oman Drydock Company, said, “We are particularly pleased with the sustainability component of the agreement, as we are determined to drive sustainability in our operations and supply chains.”
Oman Shipping has a fleet of 50 vessels including LNG carriers, LPG tankers, VLCCs, dry bulkers and containerships. It operates through a number of subsidiaries, including Oman Ship Management Company, Oman Charter Company and Oman Container Lines.