Hassan bin Mohammed Rafi Al-Emadi, Ambassador of Qatar to Japan; Abdullah bin Jassim Zeiara, the Embassy Second Secretary; Mohamed Khalifa Al Sada, Chairman and Managing Director of S’hail Shipping and Maritime Service; and Rajiv Pal, CEO S’hail Shipping,
S’hail Shipping added its 5th Ship to its fleet of Dry Bulk Carriers. The Ship, “S’hail Al Wajbah” is a 2005 Japanese-built gearless bulk carrier of about 77,000 dwt. The Ship is registered with Ministry of Transport and Communications of the State of Qatar and will fly Qatari Flag, the company said in a statement.
After its establishment in December2016, the Company has been resilient and consistently growing despite the sudden economic blockade imposed on Qatar in June 2017. This young and dynamic Company is already now the largest Dry Bulk Carrier owning company in the State of Qatar. True to its mission, the Company now eyes to become the largest in the region.
On this occasion, Mohamed Khalifa Al-Sada, Chairman and Managing Director of the Company, said, “In our voyage to expansion, we are extremely happy to get the support of Qatar Development Bank 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”.
Al-Sada thanked QDB team to jointly work with the Company and within a period of 1 year to ultimately conclude in developing the first ever workable Islamic financing model at QDB tailor-made for ship financing. “We believe this is a commendable achievement dedicated to both our Company and QDB for growth of shipping and maritime business,” Al Sada said.
He stated that the Company in its EGM of 30th October 2018 has decided to increase its share capital for purpose of acquiring at least two more ships in order to add to the successes the Company has been achieving since its inception iQNB’s weekly ‘economic commentary’, which delved into each of these cases, noted that BI’s actions are designed to support the currency while reducing the country’s external vulnerabilities. On the contrary, the BSP’s actions are designed primarily to prevent overheating and anchor inflation expectations. n Dec-2016. The new acquisition plan will commence from 2019 and will focus on more modern, fuel-efficient ships. Pursuant to the EGM the Company is issuing new shares for subscription by its existing shareholders.
