S’hail Shipping

The Qatar-based maritime company S’hail Shipping and Maritime Services has successfully secured a profit from the sale of an aging panamax bulk carrier to the rapidly expanding Hoanh Son Group. The vessel in question, the 2005-built panamax bulk carrier MV S’hail Al Dukhan, boasting a deadweight of 74K, was transferred to the Vietnamese infrastructure giant. While the specific financials of the transaction were not disclosed, the Namura-constructed ship is estimated to have a value just shy of $12 million, a notable increase from the $8.3 million S’hail Shipping and Maritime Services paid for it in 2019. The Hoanh Son Group, which currently operates a fleet of nine ships, has been actively increasing its presence in the bulk carrier market, having acquired six vessels of similar size since February 2023. The most recent addition before this was in January, when the group spent $9.2 million on the 2004-built panamax bulk carrier MV Navios Orbiter, underscoring its strategic expansion in the maritime sector. 23-March-2024

 

The maritime firm S’hail Shipping and Maritime Services, based in Qatar, is on a strategic path to augment its fleet with additional bulk carriers while also setting sights on Offshore Support Vessels (OSVs). This ambitious Qatari shipowner and operator is planning to acquire more bulk carriers to satisfy increasing market demand. With a current fleet poised for expansion, S’hail Shipping and Maritime Services anticipates the acquisition of two more vessels by the beginning of 2025, which will elevate its fleet total to nine ships. Mohammad Khalifa Al Sada, the chairman of S’hail Shipping and Maritime Services, has expressed the company’s focus on acquiring modern bulk carriers, specifically those within the 70K to 80K DWT range. Furthermore, S’hail Shipping and Maritime Services is exploring opportunities to venture into the offshore vessel sector, aiming to serve Qatari enterprises, notably Qatar Petroleum. In a notable development in May 2023, S’hail Shipping and Maritime Services invested approximately $20 million in two bulk carriers for the importation of gabbro among other goods. Rajiv Pal, CEO of S’hail Shipping and Maritime Services, mentioned that the financing for the latest bulk carriers would be entirely covered by the Qatar Development Bank. Established in 2016 with an initial fleet of four bulk carriers, S’hail Shipping and Maritime Services embarked on its journey only to encounter the challenges posed by an economic embargo from neighboring countries. This led to operational difficulties for its vessels in the Arabian Gulf. In response, S’hail Shipping and Maritime Services made a strategic decision to broaden its operational horizon to a global scale. 5-November-2019

 

The maritime firm based in Qatar, S’hail Shipping and Maritime Services, has integrated two panamax bulk carriers into the Klaveness Baumarine Pool, managed by the Oslo-based Klaveness. This expansion means S’hail Shipping and Maritime Services now contributes five of its seven vessels to the pool managed by Klaveness. The two recent additions to the Klaveness-run Baumarine Pool by S’hail Shipping and Maritime Services are the panamax bulk carriers: the 76K DWT MV S’hail al Rayan (constructed in 2006) and the 74K DWT MV S’hail al Dukhan (constructed in 2005), which joined the pool in June 2019. Founded in December 2016, S’hail Shipping and Maritime Services has, with these additions, five of its fleet of seven in the Klaveness Baumarine Pool. In a transaction completed in late May 2019, valued at roughly $20.6 million in total, S’hail Shipping and Maritime Services acquired these two panamax bulk carriers. The MV S’hail al Rayan, previously named MV Chris, was purchased from the Greek shipowner Chandris, and the MV S’hail al Dukhan, formerly MV Paquis, was bought from the Japanese shipowner Santoku Senpaku. Mohamed Khalifa Al-Sada, the chairman of S’hail Shipping and Maritime Services, and CEO Rajiv Pal have noted the collaboration with the Klaveness Baumarine Pool as being beneficial for both entities, with an openness towards exploring further expansion within this partnership. Hans Næss Olstad, the head of pool management at Klaveness Baumarine Pool, remarked on the successful cooperation and resource optimization achieved with S’hail Shipping and Maritime Services’ entry of its fourth and fifth bulk carriers into the Baumarine Pool. This collaboration aids in streamlining their spot trade operations while mitigating positional and counterpart risk. S’hail Shipping and Maritime Services enjoys several advantages from being part of the Klaveness Baumarine Pool, including access to deal flow and chartering offices located in Oslo, Singapore, and Dubai, a network of first-class charterers, market research, and digital tools provided by Klaveness Baumarine Pool. Furthermore, S’hail Shipping and Maritime Services, through the Klaveness Baumarine Pool, can adjust from floating to fixed rate agreements at mutually agreed levels, thereby capitalizing on market volatility. The Klaveness Baumarine Pool, with over 50 years of experience managing dry bulk pools, currently operates two pools: the Bulkhandling Pool for handymax, supramax, and ultramax bulk carriers, and the Baumarine Pool for panamax, kamsarmax, and post-panamax bulk carriers. 10-July-2019

 

Serenity Ship Management, based in Dubai, along with the Qatar-based S’hail Shipping and Maritime Services, are reportedly expanding their fleets through the acquisition of secondhand bulk carriers. Serenity Ship Management has recently purchased the supramax bulk carrier MV Lake Dynasty, constructed in 2009, from Triton Navigation BV, a shipowner and operator headquartered in Amsterdam. The 55K DWT, Mitsui-constructed MV Lake Dynasty was sold by Triton Navigation BV for a reported $13.3 million. Known for its discreet operations in the dry bulk sector, Serenity Ship Management has, over the past year, taken over bulk carriers from Syria’s Samin Shipping, now managing a fleet of five modern handymax bulk carriers. Samin Shipping, previously regarded as one of Syria’s leading shipping entities, relocated its headquarters to Limassol, Cyprus, amid the political unrest in Syria in 2011, transferring operational management to Sea Spirit Enterprise based in Beirut. Both Samin Shipping and Sea Spirit Enterprise have since become less visible in the shipping scene. It is speculated that the Samin family has ties with Serenity Ship Management, as the transfer of bulk carriers to Serenity Ship Management, rather than a direct sale, suggests a connection. Certain shipbroking reports have even named Samin as the purchaser of the MV Lake Dynasty. Further information has been revealed regarding the recent announcements by S’hail Shipping and Maritime Services about its bulk carrier acquisitions. In late May, S’hail Shipping and Maritime Services disclosed the purchase of two panamax bulk carriers slated for delivery this month. Shipbrokers specializing in Sale and Purchase (S&P) have identified one of these vessels as the 2006-built panamax bulk carrier 76K DWT MV Chris, acquired from Pyramid Navigation. Upon delivery, MV Chris will be rechristened as MV S’hail Al Rayan. Established in December 2016, S’hail Shipping and Maritime Services’ recent acquisitions elevate its fleet to seven supramax and panamax bulk carriers, with three of the panamax vessels being managed within the Baumarine Panamax Pool. 11-June-2019

 

The maritime firm S’hail Shipping and Maritime Services, headquartered in Qatar, has expanded its fleet with the acquisition of two panamax bulk carriers in a transaction valued at approximately $20 million. The vessels, renamed as the 76K DWT MV S’hail Al Rayan and the 74K DWT MV S’hail Al Dukhan, are scheduled to be incorporated into the fleet in June 2019, elevating S’hail Shipping and Maritime Services’ total to seven bulk carriers. This expansion is part of S’hail Shipping and Maritime Services’ strategy to augment its capability in transporting bulk cargoes. In April 2018, the Qatar Development Bank (QDB) agreed to provide a financing facility of QAR 70 million to support S’hail Shipping and Maritime Services’ initiative to acquire additional bulk carriers, aiming to achieve its expansion goal. Following this, in October 2018, S’hail Shipping and Maritime Services announced a decision to increase its share capital to facilitate the purchase of at least two more bulk carriers. The bulk carriers managed by S’hail Shipping and Maritime Services are primarily engaged in transporting gabbro, a type of rock often used in construction for buildings, roads, bridges, and other infrastructural projects. Established in December 2016, S’hail Shipping and Maritime Services has made significant strides in the maritime industry, with a focus on bolstering its fleet to meet the increasing demands of the construction and infrastructure sectors in Qatar and beyond. 27-May-2019

 

Qatar-based shipowner and operator S’hail Shipping and Maritime Services bought second panamax dry bulk carrier 75K DWT. In March 2017, S’hail Shipping and Maritime Services bought 2001 built supramax dry bulk carrier 52K DWT MV S’hail Al Ruwais (ex M/V Prabhu Daya). CEO Mohamed Khalifa al-Sada desires to set up a fleet of seven (7) dry bulk carriers and ready to acquire the third panamax bulk carrier. S’hail Shipping and Maritime Services has been endeavoring to be listed on the Qatar Stock Exchange within a couple of years. 2-May-20172- May-2017