Oman’s largest fishing company, Oman Fisheries Company (OFC) has signed an agreement with South America-based Transmarina for a commercial fishing vessel to support the Omani company’s yellowfin tuna fishing operations.
“The company has signed a commercial fishing agreement with Transmarina covering the use of its vessel which is equipped with refrigeration capabilities with freezing temperatures of -40 degrees centigrade,” Oman Fisheries said in a statement to the Capital Market Authority (CMA).
The arrangement is the most recent in a series of agreements that Oman Fisheries signed in an effort to improve the sector’s ability to contribute to the nation’s GDP.
Oman Fisheries is a subsidiary of Fisheries Development Oman (FDO), which is wholly owned by the Oman Investment Authority (OIA), the integrated sovereign wealth fund of the Sultanate of Oman.
“In the initial stages, the vessel will target 500 metric tonnes of Yellowfin Tuna using long-liner fishing methods. Oman Fisheries Company will prepare, process, value add and distribute and export to local and international markets. The company is finalizing the necessary procedures with the local competent authorities,” the company noted.
Recently, Omani logistics firm Al Madina Logistics Services Company (AMLS) signed a long-term agreement for cold chain storage and logistics with Oman Fisheries Company. The agreement provides Oman Fisheries with multi-temperature on-demand storage and handling at multiple AMLS distribution centers, as well as value-added services and inland transportation.
In May, Oman Fisheries Company signed a commercial fishing agreement with Irish company Atlantic Dawn for the utilization of its fishing vessels.