MUSCAT: Asyad Shipping Company’s total assets climbed to RO 1.316 billion at the end of June 2026, up from RO 1.235 billion at the end of 2025, as the Oman-based maritime group accelerated fleet expansion and renewal with the acquisition and delivery of several new vessels during the first half of the year.
The RO 81 million increase in assets was driven primarily by the acquisition of additional vessels under the group’s strategic fleet renewal and expansion programme. Capital expenditure reached RO 260.4 million during the six months ended June 30, reflecting investments in the company’s long-term strategy for maritime trade and energy transportation.
Publicly-traded Asyad Shipping acquired three newly built very large crude carriers (VLCCs) under construction and four secondhand dry bulk vessels — two Kamsarmax and two Baby-Capesize vessels — during the period. It also took delivery of three secondhand Newcastlemax dry bulk vessels, one newbuild VLCC and two newbuild LNG carriers.
At the same time, the group completed the delivery of five LNG carriers and one VLCC to their new owners, reflecting continued active management of its fleet portfolio.
As of June 30, Asyad Shipping’s operating fleet comprised 45 owned vessels, three co-owned vessels through joint ventures and 31 chartered vessels, compared with 44 owned, four co-owned and 32 chartered vessels at the end of 2025.
The fleet expansion was accompanied by a sharp improvement in financial performance. Asyad Shipping reported a net profit of RO 38.9 million for the first half of 2026, nearly doubling from RO 20.2 million in the corresponding period of 2025.
Operating profit rose to RO 48.6 million from RO 32.3 million a year earlier, supported by higher freight rates, stronger operating margins and improved cost efficiencies across the business. The bottom line also benefitted from a one-off RO 1.9 million gain from vessel disposals during the period.
Despite disruptions to regional maritime traffic and heightened market uncertainty, the group said its operations remained resilient, with its fleet commercially deployed and continuing to serve customers safely and reliably.
Asyad Shipping also maintained shareholder returns, declaring and paying dividends of RO 28.88 million during the first half, while retaining financial flexibility to fund its growth strategy.
Commenting on the outlook for the remainder of the year, Chairman Muhsin al Rustom said the operating environment would remain challenging amid heightened regional geopolitical tensions, but expressed confidence in the company’s prospects.
“Nevertheless, the Group maintains a positive outlook for market rates and financial performance, supported by the scheduled delivery of newbuild and second-hand vessels during the remainder of the year”, he said.
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