Oman Shipping Company, China Firm Sign Pact

The Oman Shipping Company, or OSC, has signed an agreement in Shanghai with Jiangsu Rongsheng Heavy Industries Company of China to build four vessels. The agreement was inked by National Economy Minister and OSC Chairman Ahmed bin Abdulnabi Macki with the chairman of the Chinese company. Macki said the four vessels were considered to be the biggest in the world with a total capacity of 400 thousand tonnes. All the four ships are 360 metres long, 65 metres wide and 30 metres tall.
They will be used to ship iron ore from Brazil to the Sultanate. Macki said the ships were leased for 20 years to the Brazilian company Vale, which is currently building a factory for producing iron balls at the Sohar Port Industrial Estate.  The plant is expected to start production by the end of next year.
Macki added that two of the four vessels would join the OSC fleet by the end of November 2011 and the other two by February 2012.  He said the signing of the agreement demonstrates the strength and capability of Oman’s economy to continue with its plans for diversifying sources of national income, although the world is witnessing a recession due to the global financial crisis.