Oman's Asyad Purchases Two Crude Oil Tankers

26/05/2025 02:41 AST

Oman's Asyad Shipping on Saturday announced the purchase of two crude oil tankers, among the largest in the world, with a capacity of up to two million barrels per vessel.

This strategic move supports the company's expansion in the energy sector and strengthens its presence in regional and international markets, according to state news agency, ONA.

Emad bin Saeed Al Khaduri, Chief Commercial Officer of Asyad Shipping, said this investment is part of an integrated plan to expand the shipping fleet and strengthen partnerships with major international oil transport companies.

He noted that the two new vessels comply with carbon neutrality standards, supporting Asyad's commitment to sustainability as part of its expansion plans.

The Chief Officer said as of April 2025, Asyad's fleet includes 85 vessels, with plans underway to further expand into new markets such as ethylene and ammonia transportation, in addition to existing operations in crude oil and liquefied natural gas (LNG).

Al Khaduri added that the company adopts flexible operating models that include short- and long-term contracts, in addition to spot contracts to meet market demands.

"Asyad Shipping plans to invest between $2.3 and $2.7 billion in its ongoing expansion," he said. "Over $1 billion has already been invested, including in new vessels set to enter service in 2026 and 2027. These additions will include two LNG carriers, four rude oil tankers, and two oil derivative carriers," Al Khaduri added.

He said the company, through its international office in Singapore, successfully managed and operated 38 tankers in 2024, showcasing its operational strength and rising global competitiveness.

Asharq Al Awsat