S’hail Shipping and Maritime Services held its Annual General Meeting recently and approved all the items on the agenda of the meeting, including the Board’s proposal to declare 16.5 percent dividend shares to all its shareholders.
S’hail is a private joint stock company incorporated on December 11, 2016. Within a short span of time, the company has acquired 5 ships ranging from 52k dwt to 75k dwt dry bulk carriers.
At the meeting, the Chairman and Managing Director of the company, Mohamed Khalifa Al Sada, said: “The company has made remarkable progress in the field of maritime transport and the ships are engaged in transportation of dry bulk materials globally even after all doors of navigation within major gulf ports were closed for Qatari owned and/or flagged ships”.
S’hail is now an internationally known brand for transporting various dry bulk materials like Corn, Soybean, Grain, Coal, Cement, Fertilizer, Mineral etc. In the financial year 2018, S’hail’s ships internationally carried more than 2 million metric tons of dry bulk cargo between ports in USA, Brazil, Argentina, China, India and amongst others South East Asia too. Al-Sada thanked the Shareholders for their overwhelming response in December 2018 for subscribing to 30 percent increase in share capital. This capital will be used for expansion of S’hail’s fleet. Considering the financial performance of the company in the year 2018, the AGM adopted the Board’s proposal to declare 16.5 percent dividend shares to all its shareholders.
Immediately after conclusion of the AGM, the shareholders called for an Extra Ordinary General Meeting during which it was decided that the company should issue further shares of 40 percent for subscription by the existing Shareholders as on December 31, 2018. This increase of share capital was adopted at the EGM. This capital too will be used for expansion of S’hail,
In Qatar, S’hail is definitely emerging as one of the most prominent international player in shipping & maritime sector particularly in dry bulk sector.
