Oman’s Asyad Shipping Expands Fleet with Two New Crude Oil Tankers to Strengthen Global Presence

Muscat : In a strategic move to enhance its position in the global energy shipping market, Asyad Shipping has added two mega crude oil tankers to its fleet. The expansion aligns with the company’s broader growth strategy and its commitment to environmental sustainability.

Emad bin Saeed Al Khaduri, Chief Commercial Officer of Asyad Shipping, stated that the new vessels are part of an integrated fleet expansion plan aimed at bolstering the company’s partnerships with leading international oil transport firms. He noted that both tankers are designed in line with carbon neutrality standards, underscoring Asyad’s dedication to sustainable operations.

As of April 2025, Asyad’s fleet comprises 85 vessels, with ambitions to expand into new market segments, including the transportation of ethylene and ammonia. The company already operates across key sectors such as crude oil and liquefied natural gas (LNG).

Al Khaduri explained that Asyad adopts flexible operating models, including short- and long-term contracts, as well as spot charters, allowing it to effectively respond to shifting market demands. He revealed that the company plans to invest between $2.3 and $2.7 billion in its ongoing expansion efforts. More than $1 billion has already been invested in new vessels scheduled to enter service between 2026 and 2027. These include two LNG carriers, four crude oil tankers, and two oil derivative carriers.

Through its international office in Singapore, Asyad Shipping successfully managed and operated 38 tankers in 2024, highlighting its growing operational capabilities and global competitiveness.

The company is also focused on developing local talent, with 90 percent of its ship management and marine crew composed of Omani nationals—reflecting a strong commitment to Omanisation and value creation within the Sultanate.

On the financial front, Asyad Shipping maintained stable revenues in 2024 compared to the previous year. However, optimized contracting strategies led to a 30.4 percent increase in net profits, demonstrating the company’s ability to adapt effectively to market conditions.

Al Khaduri added that Asyad’s upcoming initial public offering (IPO) is a testament to its efficient investment management and expanding international footprint.