The new financing facility will enable the shipping company to optimise its debt position by reducing overall borrowing costs and eliminate refinancing risk while diversifying the company’s pool of financial partners.
Oman Shipping Company (OSC) has secured a $110 million financing facility from Standard Chartered to acquire three tanker vessels and two very large crude carriers.
Michael Jorgensen, acting CEO of Oman Shipping Company, said, “We are delighted to have agreed this substantial finance facility for five of our vessels with Standard Chartered.”
In a joint statement, the duo said that the facility will help OSC explore opportunities to expand its offering yet further supporting the company growing customer base and connecting them to global markets through its full-service fleet of over 50 world-class vessels.
The facility has been solely arranged by Standard Chartered.
OSC is a full-scale shipping company handling ship owning, technical management and chartering.