MUSCAT, SEPT 21
Asyad Shipping Company SAOG has agreed the sale of three tankers — two very large crude carriers and one medium range product tanker — for a combined RO 68.44 million ($177.7 million).
The company disclosed both transactions to the market earlier this week. Together, they are expected to deliver an aggregate positive profit impact of about RO 29.5 million ($76.5 million), recognised across the relevant reporting periods in 2026 and 2027.
The larger of the two deals covers the VLCCs Seeb and Samail, sold for RO 61.7 million ($160.2 million). Asyad Shipping said it received a deposit and advance payment on September 18. Both vessels were built in 2011 and have been in the fleet since delivery.
The company will continue to trade the ships before handover, operating Samail until October or November 2026 and Seeb until mid-January 2027, a move it said would allow it to maximise returns from current freight market conditions. Proceeds are due on successful delivery of each vessel. The two sales are expected to generate a positive profit impact of approximately RO 29 million ($75.2 million).
In a separate disclosure, Asyad Shipping announced the sale of the MR tanker Al Amerat for RO 6.74 million ($17.5 million). A 10 per cent advance payment was received on September 20. The vessel was built in 2008 and has been part of the fleet since. It is due to be delivered to its new owner at the end of September, with the balance of proceeds payable on delivery. The transaction is expected to produce a positive profit and loss impact of around RO 0.5 million ($1.3 million).
Dr Ibrahim al Nadhairi, Chief Executive Officer, linked both disposals to the company's fleet renewal and portfolio optimisation strategy.
"The VLCCs, Seeb and Samail, have been part of our fleet for over 15 years and their sales marks another step in our fleet renewal strategy, allowing us to capitalise on the current strong market environment", he said. "As four new-build VLCCs join our fleet by end 2026, we are delivering on our commitment to modernise our asset base, enhancing efficiency, and our competitiveness".
On the MR sale, he said: "It was an opportunistic time to sell Al Amerat, an 18-year-old MR tanker which has been with us since 2008. As we release older tonnage as part of our fleet renewal plan, we pave the way for younger, modern ships that have higher ESG credentials, and are more fuel efficient".
Asyad Shipping, which trades on the MSX under the symbol ASCO, owns and operates a fleet of approximately 90 vessels serving more than 60 countries. The company has been operating for over 20 years across five segments: crude, dry bulk, gas, liner and products.
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