Shipping Arabia, January 30, 2025 — Asyad Shipping, the maritime division of Oman’s Asyad Group, has announced plans to invest between $2.3 billion and $2.7 billion to enhance and expand its fleet. This initiative coincides with the company’s upcoming listing of 20% of its shares on the Muscat Stock Exchange (MSX).
Based in Muscat, Asyad Shipping aims to capitalize on the growing maritime demands associated with Oman’s emerging green hydrogen sector. The planned investments will address increased shipping requirements and modernize the aging assets within its diverse fleet, which encompasses crude tankers, LNG carriers, product tankers, gas carriers, dry bulk carriers, and containerships.
The company’s ‘Intention to Float’ document outlines a strategy to fund these investments through a combination of internal resources and external bank financing, emphasizing sustainable growth and profitability. Asyad Shipping is already a key player in transporting crude oil and refined petroleum from Oman to global markets, anticipating steady growth in global oil production and consumption, supported by expanding refining capacities and rising demand for refined products.
The LNG sector also represents a significant growth opportunity for Asyad Shipping, fueled by increasing infrastructure and expanding end-user markets. The company has secured many vessels under long-term contracts, positioning itself well in this market.
Furthermore, Asyad Shipping manages various liquid cargoes and dry bulk commodities essential to Oman’s metallurgical industry. As the preferred maritime partner for strategic Omani enterprises, the company is well-prepared to leverage the national economic expansion and the potential of the green hydrogen sector, which is expected to increase the demand for transport capacities for green ammonia, green methanol, and other hydrogen derivatives.
Additionally, Asyad Shipping operates a Liner Shipping segment through its subsidiary, Asyad Line Co (ASL), enhancing its service offerings with routes from Omani ports to key markets in the GCC, China, and Southeast Asia. This subsidiary provides comprehensive services, including storage, transportation, and customs clearance.
With a fleet of 89 vessels and a combined capacity exceeding 9.5 million DWT as of September 30, 2024, Asyad Shipping is strategically positioned to support high-growth markets across Asia, the Middle East, and North Africa, leveraging its extensive and globally diversified fleet.
