At the outset, I thank all my fellow 343 founding shareholders of the company for having overwhelmingly subscribed to the recent issuance of 8.65 million additional shares by the company in the FY 2018-19. It is this strength, faith and support of the shareholders that feeds power to the company to profitably grow.
Since its incorporation on 11th Dec 2016, the company has now grown into becoming the largest owner of dry bulk carriers in the State of Qatar. With 7 dry bulk carriers totaling to 483,417 dwt, the company has now accumulated experience of efficient global transportation of around 5 million MT of dry bulk commodities like aggregates, coal, iron ore, bauxite, gypsum, cement, cement clinker, minerals, soybean, bagged and bulk rice grains etc.
Further, the support of local financial institution namely, Qatar Development Bank, for acquisition of dry bulk carriers adds to the testimony of company’s excellent role, capability and ability to develop this non-oil and gas related business in Qatar which is in consistence with the guidance and Qatar Vision 2030 document of H.H. the Emir, Sheikh Tamim Bin Hamad Al-Thani.
Our ships transport cargoes in six of the seven continents of the world namely – North America, South America, Europe, Africa, Asia and Australia. As a Qatari company with all our ships registered and flying Qatari Flag, we take pride in being connected to the world and also being relied upon by major commodity trading houses in the world to carry their cargoes on our ships. Ultimately this results in an incremental role of Qatar in global trading and transportation of dry bulk commodities.
Personally being from the pioneer years of developing port and shipping sectors in the State of Qatar, I am confident that there is a tremendous potential for us and Qatar to grow our business share in global transportation of dry bulk commodities which acts as a natural hedge against Qatar’s current dependency on the economics of oil and natural gas. Further, expanding our shipping capacity contributes to the company’s increasing role and participation in the freight market thereby adding to the inflow of valuable foreign exchange into the State of Qatar that also supports many local businesses like the insurance sector.
As the organization builds upon the success of its current activities, we keep exploring new opportunities which creates synergy or meaningfully diversify our business. We always welcome new ideas and business partners to join the efforts of our well skilled, tested and highly rated human resources who work endlessly to make the company successful in achieving its commercial goals but then always with full respect to the environment and social causes that defines health and happiness for us all.
In our role, we look forward to grow our participation in building our country’s successful future as envisaged in Qatar Vision 2030.