(MENAFN- Muscat Daily) Muscat- Oman Shipping Co (OSC) reported strong performance in domestic markets following the long-term deals with Oman Oil Refineries and Petroleum Industries Co (Orpic) and Oman Trading International (OTI).
OSC's growth in the region is being driven by a 20-year contract to transport condensate for Orpic and a 15-year deal transporting methanol for OTI from Salalah Methanol plant, according to a press release.
The company is further supporting the export of LPG from Sohar Refinery to Yemen, Sudan, India, Bangladesh and Sri Lanka. It comes shortly after OSC reported significant progress with a new very large crude carrier (VLCC) spot chartering desk securing more than 100 fixtures with world leading oil majors in its first twelve months of operation.
Debasish Mohapatra, general manager - commercial, tankers and gas at OSC, said the company's strong domestic performance is helping underpin the ambitious growth strategy. 'Being the national carrier, OSC caters to the needs of Omani industry for the carriage of a wide range of products including condensate, methanol and LPG.'
He said, 'As part of our long-term contract with Orpic, we have deployed two chemical carriers along the coast of Oman. One is a condensate carrier load on average 10,000 cubic metres of condensate from Qalhat in Sur and discharge the product for use in refineries including Mina Al Fahal in Muscat and Sohar. The second carrier is transporting refined products loading from Sohar and discharge in Salalah.'
Within the domestic product segment OSC is also responsible for the transportation of half-a-million tonnes of methanol from Salalah Methanol Co.
'Meanwhile, OSC is also exporting LPG from Sohar Refinery to neighbouring countries through two dedicated small pressurised LPG carriers. This involves the transportation of 3,850 metric tonnes per vessel on average to the Middle East market, as well as Africa and Asia,' Mohapatra said.
He said the domestic growth is being supported by the new VLCC chartering desk, which has concluded more than 110 fixtures with a total of 24 charterers and more than 15 brokerage companies. This includes new contracts with oil majors including Reliance, Essar, BP, GS Caltex, S-Oil, Indian Oil, Hyundai Glovis and Kuwait Petroleum etc, and traders such as Trafigura, ST Shipping, OTI and Socar.
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