S’hail declares 5% cash dividend
22 Feb 2021 - 8:28
The Peninsula
Doha: S’hail Shipping and Maritime Services held its 4th Annual General Meeting online on February 15 at its head office in West Bay, Doha.
Due to the COVID-19 pandemic, Mohamed Khalifa Al Sada, Chairman and Managing Director stated, “the prolonged lockdown of global economy adversely shocked the supply and demand resulting in weak freight earnings particularly during the first half of 2020”. Closing of borders, disruption of air travel and COVID tests / quarantine requirements caused severe strains on planning operation of the ships.
Taking advantage of weak market and asset prices coupled with the news of likely development of vaccines in 2020-21, the company in Oct-2020 bought its eighth ship – “S’hail Lusail”, 2007 built in Japan, 86041 dwt bulk carrier at about QR36m partly financed by Qatar Development Bank.
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S’hail Shipping adds their sixth vessel to the Baumarine by MaruKlav Pool
The MV S’hail Lusail (Oshima 84.5k) was delivered late November as the latest addition of S’hail Shipping to the Baumarine Pool managed by Klaveness and Marubeni. With this addition the Baumarine pool now consists of 33 vessels, making up the world’s largest Panamax Pool – Having been able to assist one of our members to build their fleet ground up is significant for our strategic journey as a partner and enabler of earnings optimization”, says Michael Jørgensen, MD in Baumarine by MaruKlav.
– This collaboration has immense potential to grow the value of our relationship”, says Mr. Mohamed Khalifa Al-Sada, Chairman and Managing Director of S’hail Shipping together with CEO, Mr. Rajiv Pal. S’hail first joined the pool in 2017 with their first acquired Panamax and with this sixth addition, since then they have grown to become a reputable dry bulk player in the global shipping area.