Oman’s Asyad Shipping is reinforcing its expansion strategy in the dry bulk sector with a new acquisition aimed at increasing exposure to larger vessel classes and key global commodity flows.
The Muscat-listed company has agreed to purchase two secondhand baby capesize bulk carriers, with a combined value of approximately $75.8m. Delivery of both vessels is expected in September this year.
The ships measure 100,309 dwt each and were built in 2020 and 2021 respectively, making them relatively modern additions to the fleet. Both vessels already have employment secured and will enter into three-year time charter agreements with a major international dry bulk operator upon delivery.
This latest acquisition is part of Asyad Shipping’s broader strategy to scale up its dry bulk operations while aligning its fleet with evolving global trade patterns that increasingly favour larger and more efficient tonnage.
Chief executive Ibrahim Al-Nadhairi said growing customer demand for higher-capacity vessels is a key driver behind the company’s investment decisions. He added that the addition of baby capesize units would enhance Asyad’s ability to support shifting cargo flows and strengthen its position as a leading dry bulk operator in the region.
The move follows the company’s earlier entry into the kamsarmax segment earlier this year. In April, Asyad Shipping agreed to acquire two modern 82,000 dwt bulk carriers for around $73m as part of its ongoing fleet renewal and expansion programme.
With this latest transaction, the company continues to broaden its presence across multiple dry bulk segments, extending its reach into vessel classes typically deployed for transporting iron ore, coal, bauxite and other major bulk commodities across both regional and long-haul trading routes.
Once the deal is completed, Asyad Shipping’s owned dry bulk fleet will approach nearly 20 vessels, further cementing dry bulk as a core growth pillar alongside its tanker, gas carrier and offshore shipping businesses.
- Latest
- Trending
ADVERTISEMENT
