S’hail Shipping & Maritime Services has been established as the first such company in Qatar in maritime transport with a capital of QR100mn. 
As part of the establishment of the company, a meeting of shareholders was held at the Al Sultan Beach Resort in Al Khor recently. During the meeting, the shareholders ratified the establishment of the company. 
S’hail Shipping & Maritime Services chairman Mohamed Khalifa Abdullah al-Sada spoke about the need for such a company in Qatar’s maritime sector. 
He said Qatar’s urban development necessitated the shipping of gabbro in large quantities. Gabbro is the basic material required in the construction of buildings, roads, bridges and other infrastructure.
Now gabbro is being “heavily imported”, especially from the UAE. Al-Sada said there was a scarcity of national companies working in this area. 
A reputable international firm had been entrusted with the task of doing a feasibility study on the overall project. 
He said S’hail planned to buy seven “used” ships, but not older than 15 years for shipping gabbro, cement and other bulk construction materials.  Currently, the company is negotiating on the purchase of two ships and more will be done next year. 
The price per ship is expected to range between $4.5mn to $6mn. 
Al-Sada also laid out a vision for the company to be on the Qatar Stock Exchange “within two years.”
The company’s Board of Directors comprise Mohamed Khalifa al-Sada, Rashid Jassim al-Murikhy, Mohamed bin Shaqr, Hussain al-Fadalah, and Jaber Ali al-Mohannadi.