Asyad Shipping – the Omani-owned ocean-going maritime transportation services provider – has revealed that it has invested around $1 billion in initiatives designed to make its diversified shipping fleet more environment-friendly.
On Thursday, February 20, 2025, the company, a subsidiary of Asyad Group – part of Oman Investment Authority (OIA) – kicked off a weeklong Initial Public Offering covering 20 per cent of its share capital for public subscription. The IPO will help raise around RO 128 million, with about a third of it coming from anchor investors.
Affirming its commitment to sustainability, Asyad Shipping said: “The commitment to environmental responsibility includes working towards net zero goals of Oman’s 2050 strategy, decarbonisation of shipping activities by investing in an environmentally efficient fleet, and responsible disposal of older vessels, effective waste management, and a focus on biodiversity and alternative fuels.” Notable among these commitments is its investment in six environmentally friendly, dual fuel ships, which are currently on order, Asyad Shipping noted in its IPO prospectus. Liquefied natural gas (LNG) is the principal fuel source powering dual-fuel ships, enabling ship-owners and charterers to dramatically cut planet-warming carbon emissions typically associated with bunker fuel based fuel.
In addition, Asyad Shipping has invested $66.5 million in sustainability-linked initiatives, including installing scrubbers on 19 of its vessels and additional investments in air lubrication systems, shaft generator systems, nano paint, engine speed limiters, propeller boss cap fins, rotor sails, pre-swirl ducts, meta power and variable frequency drives. A further $11.4 million has been earmarked during 2025 for upgrades to existing vessels in order to improve environmental performance.
More recently, Asyad Shipping announced a partnership with the German University of Technology in Oman to conduct a study on the development of a carbon capture system, which would aim to reduce CO/CO2 emissions from vessels. This initiative is linked to a joint study agreement with OQ Alternative Energy and Sumitomo to explore the potential of Oman to become a low-carbon fuel bunkering hub.
Importantly, a significant part of the company’s environmental focus is dedicated to the reduction of energy consumption, conservation of resources and fostering of sustainable shipping practices.
In one initiative undertaken last year, the company retrofitted a Very Large Ore Carrier with Anemoi Rotor sails, which harness wind energy to reduce fuel consumption, bunker costs and harmful emissions.
Likewise, the deployment of Silverstream air lubrication systems helps reduce the frictional resistance of the vessel by creating a carpet of microbubbles that coats most of the flat bottom of a vessel’s hull, resulting in lower fuel consumption and reduced emissions of up to 10 per cent.
Another initiative implemented by the company pertains to the Becker Mewis Duct, an energy-saving device developed for full-form slower ships enabling either significant power savings at a given speed or, alternatively, faster travel speeds at a given power level.
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