Product tanker sale to yield RO 9.5m gain for Asyad Shipping

MUSCAT, NOV 10
Asyad Shipping’s joint venture with Japan’s Mitsui OSK Lines has agreed to sell the 17-year-old LR2 product tanker Haima for about RO 24.3 million, a deal expected to generate a gain of about RO 19 million for the venture.
Asyad Shipping’s 50 per cent share of the gain is about RO 9.5 million, subject to final closing adjustments and accounting treatment, the company said.
The 50:50 joint venture signed a memorandum of agreement for the sale on November 6. The vessel is expected to be delivered to its new owner in the second half of November.
Haima was built in 2009 and has been part of Asyad Shipping’s fleet since then.
The company said it has continued to explore opportunities to divest older tonnage as part of its strategy to maintain a young fleet and efficient operations.
It added that it remains committed to a disciplined fleet renewal strategy, with proceeds from planned divestments to be used to support its ongoing expansion plan.
Asyad Shipping, which trades on the MSX under the symbol ASCO, has been operating for more than 20 years. It says it has one of the world’s largest diversified fleets with about 90 vessels, and serves customers in more than 60 countries through five business segments: crude, dry bulk, gas, liner and products.