MUSCAT: Asyad Shipping, the majority Omani state-owned maritime transportation company, has announced that it is acquiring three Newcastlemax Dry Bulk Carriers for a total of $209 million as part of the company’s growth strategy.
Dr Ibrahim al Nadhairi, Chief Executive Officer, commented: “With an increase in our Dry Bulk capacity, we are further strengthening our capabilities to deliver solutions for our customers while keeping pace with rising global demand. Growing our Dry Bulk segment is part of our growth strategy as per our business plan and executing this deal means we can meet rising demand and increase our service offerings to our customers”.
The vessels are expected to be delivered in the first quarter of 2026, effectively increasing the company’s fleet of Dry Bulk Carriers to position it as a major player in the region. Each vessel has a capacity of 208,000 deadweight tonnage and is equipped with an Exhaust Gas Cleaning System (EGCS) and a Ballast Water Treatment System (BWTS). Furthermore, they feature an energy-efficient hull design with engines designed for thermal and mechanical efficiency, ensuring compliance with the International Maritime Organization (IMO) environmental regulations.
In a separate filing to the Muscat Stock Exchange, publicly-traded Asyad Shipping announced that its commercial subsidiary Oman Charter Company LLG has signed a Contract of Affreightment (COA) with a global mining company for a period of 10 years.
Dr Ibrahim al Nadhairi, Chief Executive Officer, added: “This agreement builds on and complements our successful longstanding relationships and service offerings to our customers. As we execute our strategy of growth, we are strengthening our business to offer our customers competitive solutions to reach global markets efficiently”.
The agreement, signed on September 22, 2025, will take effect in Q2 2026, generating revenue for the company over the contracted 10-year period.
Oman Observer is now on the WhatsApp channel. Click here
