Oman Shipping Company S.A.O.C. (OSC) was set up in2003 asa closed Omani Company wholly owned by the Government of the Sultanate of Oman(GOSO) through the Ministry of Finance (MOF) 80% and Oman Oil Company (OOC)20%, to take over the shipping interests of GOSO and develop the maritimetransport industry in Oman.
- The Government of the Sultanate of Oman’ ventured into the ‘Shipping-Business’ with the following aspirations:
- To use own fleet to export the Omani Products.
- Involvement in the whole LNG value chain.
- To develop Shipping Industry in the Sultanate and create new job opportunities for the youths.
- To explore the business opportunities associated with shipping i.e. bunkering & tugs operationsetc.
OSC has set up two Omani Subsidiary Companies to takeover the chartering – Oman Charter Company S.A.O.C. (OCC) and ship management-Oman Ship Management Company S.A.O.C. (OSM)- respectively.
The foundation of ‘Shipping Industry’ waslaidin the Sultanate with the acquisition of ownership-interestin ‘SSLakshmi’ (now ‘SS Sohar LNG’) with Mitsui OSK Lines, Ltd inJanuary,2002. Thereafter in April, 2004 the Government acquired its secondvessel ‘SS Muscat LNG’. Another four LNG vessels were acquired in thefollowingtwo years.
Oman Shipping Company has continued in its objective ofbusiness development by entering new joint venture agreements for expanding itsfleet. Correspondingly, the Company has expanded into the various shippingsectorssuch as Very Large Crude Carriers (VLCCs), Gas Carriers, Product Tankers, BulkCarriers and the Container Market.