S’hail Shipping is to purchase two modern dry bulk carriers. Credit: Shail Shipping and Maritime Services.

Qatar-based S’hail Shipping has signed an agreement to acquire two modern bulk carriers for a total consideration of QR75m ($20.6m).

The latest ships S’hail Al Rayan and S’hail Al Dukhan are panamax bulkers of 76,629dwt  (deadweight tonnage) and 74,143dwt respectively.

These vessels are expected to join the company’s fleet by June.

S’hail Shipping chairman and managing director Al-Sada told Gulf Times: “These additions will enhance the company’s capacity to globally transport dry bulk cargoes, resulting in increase in company’s revenue.

“The company has to date transported globally about four million metric tonnes and that is consistent with Qatar’s 2030 vision. The company takes pride in increasing Qatar’s participation and role in global trading of dry bulk commodities.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“As a strategy to ensure proper management of risks from global trade, the company is also currently engaged in evaluating options to diversify into other segments of shipping and maritime business particularly in Qatar’s offshore sector. Clearly, the company has positioned itself to successfully navigate despite growing concerns to global trade.”

The latest acquisition of bulk carriers will further expand the company’s fleet size to seven ships and the deadweight to 483,522mt.

“The company has globally transported about four million metric tonnes to date.”

In November last year, S’hail Shipping acquired its fifth ship in S’hail Al Wajbah.

Built in Japan in 2005, the ship registered with The Ministry of Transport and Communications of Qatar is around 77,000dwt.

Other ships in S’hail Shipping fleet include M V S’hail Al Khor, M V S’hail Al Ruwais, M V S’hail Al Doha and M V S’hail Al Mafyar.

Founded in December 2016, S’hail Shipping offers worldwide services for transportation of dry bulk cargoes, including coal, iron ore, wheat, grain, soyabean, gabbro and minerals.