Oman Shipping seeks to expand fleet with ships built by China

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Oman Shipping Company (OSC) has ambitions to expand its fleet and is exploring discussions with its Chinese partners, said the company's CEO Michael Jorgensen.

The company recently held a naming ceremony for the latest addition to the company's dry bulk fleet, the Jabal Shams. The ceremony marks the official handover of the vessel from Chinese shipbuilder Zhoushan Changhong Shipyard to OSC. The two new ships, part of a series of four dry cargo vessels due to be delivered to OSC this year, will increase the company's offering in the dry bulk market in response to growing customer demand.

Jorgensen said cooperation with Chinese partners will help with his ambition of expanding by 40 percent by 2023.

"I would say we had a very good experience. We win the market… We know now by experience that the Chinese are very good at building dry cargo ships in this particular size and also middle size containers. So we're pretty sure that there will be more discussions with Chinese counterparts in the future," the CEO told CGTN.

Last year, the trade between China and Oman grew by 40 percent to 22 billion U.S. dollars. The CEO considers trade with China as part of Oman's economic diversification. The country has been dependent on oil and gas.

"You can see that strategy in the mind right now is to transform the economy. The country wants to move into other sectors, focusing logistics and that's where Oman shipping fits very well," he said.

As to the ongoing China-U.S. trade disputes, the CEO said that "being shipping is a global business. So we prefer to go free float."

Moreover, Jorgensen is confident that Oman can be far away from conflicts in the region. Oman's geographic location is an advantage in his mind. "The other advantage of Oman is that it's a neutral country. It's not part of political conflicts and not part of religious fighting in the area. So there's a good position to be in. And Oman has always played neutral in these matters," the CEO explained.

(CGTN)