Oman Shipping Company has reported a rapid period of growth for its VLCC chartering desk in its first year. Set up in May 2017, the desk secured 110 fixtures in its first twelve months of operation, including contracts with owners and operators such as Reliance, Essar, BP, GS Caltex, S-Oil, Indian Oil, Hyundai Glovis and Kuwait Petroleum, and traders Trafigura, ST Shipping, OTI and Socar.
OSC is ranked as the 13th largest VLCC owner in the world, with a fleet of 15 vessels which are managed commercially through its subsidiary, Oman Charter Company (OCC). 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. Around 65% of its VLCC fleet is dedicated to delivering for Shell with the remaining 35% employed by other major players.
OSC’s VLCCs are technically managed by Oman Ship Management Company, which is based in the same office as OCC. This proximity enables the company to operate a fast, efficient and coordinated operation for clients, it claims.