Asyad lines up $308m MR tanker newbuilds

Asyad Muscat-listed Asyad Shipping has ordered six MR product tankers at HD Hyundai Heavy Industries in South Korea, adding another leg to its fleet expansion drive. The Omani owner said in a stock exchange filing that the 49,999 dwt vessels would cost about OMR119m ($308m), with deliveries expected from 2029. Asyad has also signed five-year time charter contracts for all six ships with what it described as a leading global energy company. The deal marks a fresh push into product tankers for Asyad, which has been growing across several vessel classes since its Muscat Stock Exchange listing last year. Chief executive officer Ibrahim Al-Nadhairi said the ships would feature advanced eco-design specifications and improved fuel efficiency. He said the long-term charters supported the company’s approach to capital allocation and reflected its confidence in the longer-term product tanker market. The order follows a string of recent dry bulk moves by the state-backed owner. Splash reported in April that Asyad had entered the kamsarmax sector with the acquisition of two 2023-built 85,000 dwt bulkers for about $73m. The company, which operates a diversified fleet of around 90 ships, followed that in May with the purchase of two 100,309 dwt baby capes for around $75.8m, both backed by three-year time charters to a leading international dry bulk operator. Follow Us Adis Ajdin Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy. Read Next July 9, 2026 Hormuz traffic collapses as Trump declares ceasefire ‘over’ July 9, 2026 Ukraine’s tanker and refinery campaign deepens Russia’s fuel crisis July 9, 2026 Crude tanker orders hit record high July 9, 2026 JP Morgan linked to fresh Samsung suezmax order July 9, 2026 Ovkianvance Port snaps up vintage non-sanctioned VLCC Back to top button