Founded in 2007, OM Maritime specializes in ship ownership, chartering, financing, and commercial maritime services. OM Maritime's Founder and CEO, Captain Subhangshu Dutt, and New Jiangzhou's General Manager, Wu Qiuping, finalized the agreement.
The decision to invest in new buildings comes as secondhand vessel prices hit record highs. According to Captain Dutt, the current market conditions made acquiring used vessels riskier due to the age of available ships.
This move aligns with OM Maritime's strategic focus on chemical and product tankers. The company currently operates a fleet that includes three owned tankers, which trade in pools, and six time-chartered vessels, three of which are also pool-traded, while the other three operate on the spot market.
The new tankers will be classed by Bureau Veritas and registered under the Singapore flag. They will be designed to carry a range of cargoes, including chemicals, acids, petroleum products, and edible oils.
