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Recent News SHIPPING: Asia-US container rates surge as volumes pulled forward ahead of strike, tariffs HELLENIC SHIPPING NEWS WORLDWIDE HELLENIC SHIPPING NEWS WORLDWIDE, ONLINE DAILY NEWSPAPER ON HELLENIC AND INTERNATIONAL SHIPPING * Home * Shipping News * top stories * Hellenic Shipping News * International Shipping News * Dry Bulk Market * Piracy and Security News * Shipping: Emission Possible * Marine Insurance P&I Club News * Port News * Shipbuilding News * Shipping Law News * Interviews * Events and Training Courses * Sea Tourism and Yachting * Recent Videos * Mobile Applications and Social Media * Commodities * Commodity News * Chinese iron ore and steelmaking prices * Freight News * Guide for Carriage of Hazardous Materials * Ship Risk Profile Calculator * Report / Analysis * Weekly Dry Time Charter Estimates * Weekly Tanker Time Charter Estimates * Weekly Container Reports Index * Weekly Vessel Valuations Report * Daily Tanker Market Rates * Daily Bunker Report * Cheapest Bunker Port Matrix * Weekly Shipbrokers Reports * Monthly Shipbrokers Reports * Monthly Ship Auctions * Weekly Demolition Reports * Weekly Ship Sales * Weekly Shipbuilding Reports * Marine Engine Specifications * Shipping Glossary * Oil & Energy * Oil & Companies News * General Energy News * Bunker Prices Worldwide * World Economy * World Economy News * IMF/OECD News * Stock Market News * Stock News * Stock Market Snapshot * Daily Currencies Ratings * Hellenic Shipping Companies * Live Hellenic Shipping Stocks * Live International Shipping Stocks * Live Commodity Trade Markets Go to... Home Shipping News – top stories – Hellenic Shipping News – International Shipping News – Dry Bulk Market – Piracy and Security News – Shipping: Emission Possible – Marine Insurance P&I Club News – Port News – Shipbuilding News – Shipping Law News – Interviews – Events and Training Courses – Sea Tourism and Yachting – Recent Videos – Mobile Applications and Social Media Commodities – Commodity News – Chinese iron ore and steelmaking prices – Freight News – Guide for Carriage of Hazardous Materials – Ship Risk Profile Calculator Report / Analysis – Weekly Dry Time Charter Estimates – Weekly Tanker Time Charter Estimates – Weekly Container Reports Index – Weekly Vessel Valuations Report – Daily Tanker Market Rates – Daily Bunker Report – Cheapest Bunker Port Matrix – Weekly Shipbrokers Reports – Monthly Shipbrokers Reports – Monthly Ship Auctions – Weekly Demolition Reports – Weekly Ship Sales – Weekly Shipbuilding Reports – Marine Engine Specifications – Shipping Glossary Oil & Energy – Oil & Companies News – General Energy News – Bunker Prices Worldwide World Economy – World Economy News – IMF/OECD News Stock Market News – Stock News – Stock Market Snapshot – Daily Currencies Ratings – Hellenic Shipping Companies – Live Hellenic Shipping Stocks – Live International Shipping Stocks – Live Commodity Trade Markets Home / Shipping News / International Shipping News / ADIB provides $80mln Sharia’a-compliant financing to Oman Shipping Company ADIB PROVIDES $80MLN SHARIA’A-COMPLIANT FINANCING TO OMAN SHIPPING COMPANY in International Shipping News 07/01/2020 Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has signed an agreement to provide a US$80 million Shariah-compliant Ijara facility to Oman Shipping Company SAOC (OSC), a member of the ASYAD Group, for the financing of two VLCC (Very Large Crude Carriers) tankers within the OSC group. The transaction represents OSC’s first Sharia based leasing “Ijarah”, as well as ADIB’s ongoing commitment and ability to finance significant assets in the marine and energy sectors. Christopher Phillips, Head of Ship Finance at ADIB, said: “ADIB has significant experience and expertise working on Middle East shipping deals across the full range of industry segments. Over the years we have been able to add significant value to partners across a wide range of innovative structures in terms of both bilateral and syndicated facilities. Completing this transaction with OSC is a testament to the hard work our team and we are well-positioned to build on our track record in this specialised business in order to assist our clients in 2020 and beyond.” Michael Jorgensen, Chief Financial Officer and Acting Chief Executive Officer at OSC, added: “It was important for us to find a trusted partner for our first Sharia-compliant Ijara facility. ADIB’s team were able to provide a competitive Ijara facility which served our needs, allowing us to finance two VLCC tankers and further support our expansion plans.” Founded in 2003, OSC is today an international full-scale shipping company having a well-diversified fleet of 53 modern vessels (owned and chartered-in) and is a leader in shipping transportation services. The company’s business investments and growth strategy are closely aligned with the strategic maritime transportation interests of the Sultanate’s rapidly industrialising economy. ADIB has a strong track record of delivering several landmark and award-winning transactions for high profile Corporate and Institutional customers from across the region. In 2019, ADIB concluded over 15 high profile transactions across structured and syndicated finance, Sukuk, M&A and advisory products. In the Islamic Capital Markets, ADIB acted as a Joint Lead Manager & Bookrunner on a number of high profile Sukuk mandates including Majid al Futtaim’s first ever Green Corporate Sukuk, Warba bank and Al Dar. ADIB’s corporate financing has also been recognised through numerous awards , including: “Best Shipping Financier” and “Shipping Deal of the year” at the Seatrade Middle East Awards, as well as “Best Islamic Financier” at the International Trade Finance Awards 2019, “World’s Best Islamic Bank” by the FT’s The Banker Magazine, “Best Premium Banking Service in the UAE” from Banker Middle East; and “Best Islamic Bank” at the EMEA Banking Awards. In 2019, ADIB won seven awards from EMEA finance for its corporate banking offering. Source: ADIB 2020-01-07 hellenicshippingnews. Powered by Translate * tweet * * Share * * Share * Save Previous: Six additional LNG tankers on way to northwest Europe Next: Outlook 2020: Shipping sails to new challenges and innovation RELATED NEWS SHIPPING: ASIA-US CONTAINER RATES SURGE AS VOLUMES PULLED FORWARD AHEAD OF STRIKE, TARIFFS 23/12/2024 TANKERS: THE YEAR IN REVIEW 23/12/2024 FUELEU MARITIME DEMANDS COLLABORATION AND DATA SHARING 23/12/2024 SPONSORS WEEKLY DRY TIME CHARTER ESTIMATES Read More WEEKLY TANKER TIME CHARTER ESTIMATES Read More WEEKLY CONTAINER INDEX Read More FOLLOW US LIVE SHIPS TRAFFIC MAP Read More STOCK NEWS Read More SPONSORS NEWSLETTER SUBSCRIBE TO OUR EMAIL NEWSLETTER. Name Email Subscribing I accept the privacy rules of this site RECENT VIDEOS PRE-MEPC 82 BRIEFING ON BLACK CARBON, GHGS, SCRUBBERS, NOISE, PLASTICS & OTHER SHIPPING IMPACTS 30/09/2024 EFFICIENCY GIVEN OVER 30% BOOST WITH QUAD LIFTS AT APM TERMINALS LAZARO CARDENAS 16/07/2024 HELMEPA AT POSIDONIA 2024 14/07/2024 OCEANOS NTUA – NATIONAL TECHNICAL UNIVERSITY OF ATHENS – GREECE 27/06/2024 DAY OF THE SEAFARER 2024 25/06/2024 FLANGE MOUNTED UPENDING TOOL [FMUT] 26/05/2024 FLEX LNG Q1 2024 KEY TAKEAWAYS VIDEO 24/05/2024 VEEM PRESENTS 1HY24 RESULTS UPDATE 22/02/2024 Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping SHIPPING NEWS * Top Stories * Hellenic Shipping News * International Shipping News * Dry Bulk Market * Piracy and Security News * Shipping: Emission Possible * Marine Insurance P&I Club News * Port News * Shipbuilding News * Shipping Law News * Interviews * Recent Videos * Live Piracy Map * Live Ships Worldwide Traffic Map * Real Time Marine Weather * Events and Training Courses * Sea Tourism and Yachting * Useful Links * Rss Feeds * Site Map * Mobile Applications and Social Media COMMODITIES * Commodity News * Chinese iron ore and steelmaking prices * Freight News * Guide for Carriage of Hazardous Materials * Ship Risk Profile Calculator WORLD ECONOMY * World Economy News * IMF/OECD News OIL & ENERGY * Oil & Companies News * General Energy News * Bunker Prices Worldwide REPORT / ANALYSIS * Weekly Dry Time Charter Estimates * Weekly Tanker Time Charter Estimates * Weekly Container Reports Index * Weekly Vessel Valuations Report * Daily Tanker Market Rates * Daily Bunker Report * Cheapest Bunker Port Matrix * Weekly Shipbrokers Reports * Monthly Shipbrokers Reports * Monthly Ship Auctions * Weekly Demolition Reports * Weekly Ship Sales * Weekly Shipbuilding Reports * Marine Engine Specifications * Shipping Glossary CONNECT WITH US * Contact us - Send your news * Cookie Policy * Privacy Policy * Subscribe to our free daily newsletter STOCK MARKET NEWS * Stock News * Stock Market Snapshot * Daily Currencies Ratings * Hellenic Shipping Companies * Live Hellenic Shipping Stocks * Live International Shipping Stocks * Live Commodity Trade Markets FOLLOW US © 2024 Copyright Hellenic Shipping News Worldwide All Rights Reserved. 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