S’hail Shipping adds fifth ship to its dry bulk carrier fleet

S’hail Shipping has added its fifth ship to its fleet of dry bulk carrier and is strengthening its capital base through rights issue as part of an expansion strategy. The latest ship “S’hail Al Wajbah” is 2005 Japanese built gearless bulk carrier of about 77,000dwt (deadweight tonnage). The ship is registered with The Ministry of Transport and Communications of Qatar and will fly the Qatari Flag. 



S’hail

S’hail Shipping officials after acquiring fifth vessel.



Its other vessels are 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. After its establishment in December 2016, the company has been resilient and consistently growing despite the sudden and unjust economic blockade imposed on Qatar in June 2017. The company now eyes to become the largest in the region. “In our voyage to expansion, we are extremely happy to get the support of Qatar Development Bank (QDB) to finance our 5th acquisition. 


The support of QDB to the company acknowledges the capabilities and strategic importance of the company in the growing role of Qatar’s trade and commerce in global economy,” said Mohamed Khalifa al-Sada, chairman and managing director of S’hail Shipping. The company in its extraordinary general assembly meeting of October 30, 2018, has decided to increase its share capital for the purpose of acquiring at least two more ships. “The new acquisition plan will commence from 2019 and will focus on more modern, fuel-efficient ships,” a company spokesman said.

Sources and photo-credits: Gulf Times