Muscat: Asyad Shipping has sold a 20 per cent stake in each of its two new-build liquefied natural gas carriers, ‘Muscat LNG’ and ‘Musandam LNG’, bringing two Omani institutions into the ownership of the vessels.
In a disclosure to shareholders and market participants dated July 26, the company said it had signed an agreement with Oman LNG Development Foundation (ODF) and Mars Development and Investment LLC (Mars) following the sale.
Under the agreement, signed on July 26, ODF and Mars will each hold a 10 per cent shareholding in the companies that own ‘Muscat LNG’ and ‘Musandam LNG’, while Asyad Shipping will retain the remaining 80 per cent shareholding in each company.
“This partnership marks another important step in strengthening the national shipping industry and logistics sectors”, said Dr Ibrahim al Nadhairi, Chief Executive Officer — Asyad Shipping. “The participation of strong Omani funds as partners in ‘Muscat LNG’ and ‘Musandam LNG’ reflects the confidence placed in these projects and reinforces our commitment to delivering in-country value while supporting economic development”.
He added, “As the company transporting gas on behalf of Oman LNG, we look forward to building on this partnership and continuing to support Oman’s upstream gas industry”.
The transaction follows an earlier announcement by Asyad Shipping on May 21, 2026, confirming delivery of the two carriers, which are on a charter agreement to Oman LNG under a long-term contract.
Publicly traded Asyad Shipping operates one of the largest globally diversified fleets, with approximately 90 vessels, and serves customers in more than 60 countries. The company serves blue-chip customers through five business segments: crude, dry bulk, gas, liner and products.
Oman Observer is now on the WhatsApp channel. Click here
