Asyad Shipping expands dry bulk fleet with $209mn strategic investment

29/09/2025 04:06 AST

Asyad Shipping Company, a subsidiary of Asyad Group, on Sunday announced a strategic investment in the purchase of three Newcastlemax dry bulk carriers as part of its growth strategy.

The agreement, signed on September 25, 2025, covers the acquisition of the three vessels for a total consideration of $209mn, the company said in a disclosure to the Muscat Stock Exchange. Delivery is expected in the first quarter of 2026. The company added that it will update the market once the vessels have been handed over.

Dr Ibrahim al Nadhairi, Chief Executive Officer of Asyad Shipping, said, "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. Expanding our dry bulk segment is a core part of our growth strategy, and executing this deal enables us to meet rising demand while enhancing our service offering."

The new vessels will expand Asyad Shipping's fleet of dry bulk carriers, reinforcing its position as a major regional player. This investment further strengthens the company's dry bulk segment, supports its fleet expansion plans, and contributes to its broader growth strategy and global presence.

According to the disclosure, each of the three vessels has a capacity of 208,000 deadweight tonnes and is equipped with an Exhaust Gas Cleaning System (EGCS) and a Ballast Water Treatment System (BWTS). They also feature an energy-efficient hull design and engines optimised for thermal and mechanical efficiency, ensuring compliance with International Maritime Organization (IMO) environmental regulations.

Asyad Shipping reiterated its commitment to a robust capital expenditure programme, investing in value-accretive strategic initiatives to deliver sustainable returns for its shareholders and stakeholders.

Asyad Shipping signs 10-year contract with global mining firm

Meanwhile, Asyad Shipping on Sunday also announced that it has signed a 10-year contract of affreightment with a leading global mining company. A contract of affreightment is an agreement under which a shipowner undertakes to transport a specified quantity of cargo over a defined period of time.

Asyad Shiping said that the deal has been concluded through its commercial subsidiary, Oman Charter Company.

Dr Ibrahim al Nadhairi, Chief Executive Officer of Asyad Shipping, said, "This agreement builds on and complements our long-standing relationships and service offerings to customers. As we implement our growth strategy, we are reinforcing our business to provide competitive solutions that enable our customers to access global markets efficiently."

The agreement, signed on September 22, 2025, will take effect in the second quarter of 2026 and generate revenue over the contracted 10-year term.

Muscat Daily