Asyad Shipping of Oman has contracted three new VLCCs from Hanwha Ocean, enhancing its fleet with modern, fuel-efficient vessels.
Oman's Asyad Shipping has signed contracts for three new VLCCs at South Korea's Hanwha Ocean, reports Singapore's Splash 247.
The order covers three 300,000 dwt newbuilds priced at about US$388.5 million. The vessels will be dual-fuel ready and equipped with shaft generators, scrubbers, and other efficiency upgrades. Delivery is scheduled for 2028 and 2029.
The deal follows Asyad's earlier VLCC push at the same yard. In 2024, the company booked four VLCCs at about $130 million each, securing early delivery slots originally set for 2026 and early 2027.
Chief Executive Ibrahim Al-Nadhairi stated that the contracts form part of the fleet renewal program, enabling greater VLCC capacity with younger and more fuel-efficient ships. Asyad completed an IPO in early 2025, raising around $333 million to support a $2.7 billion investment plan.
The company plans to add about 30 vessels to its fleet of 90 ships, which includes 12 owned VLCCs and six chartered-in crude tankers. The Hanwha orders place Asyad alongside other major VLCC owners such as DHT Holdings and Capital Maritime.
In December 2025, Asyad agreed to sell four partially owned LNG carriers - Ibra, Ibri, Nizwa, and Salalah - built around 20 years ago, for about $110 million. The disposal reflects regulatory and commercial pressures on older tonnage and the company's strategy of recycling capital into modern ships.
