Muscat – Asyad Shipping Company has invested in the purchase of two second-hand Kamsarmax dry bulk carriers as part of its ongoing growth strategy.

The company said it signed an agreement on Wednesday to acquire the two vessels, both built in 2023, for a total consideration of approximately RO28mn ($72.7mn), according to a disclosure to the Muscat Stock Exchange.

Each vessel has a capacity of 85,000 deadweight tonnes and is expected to be delivered in the fourth quarter of 2026. The company said it will update the market upon delivery.

Dr Ibrahim Al Nadhairi, Chief Executive Officer of Asyad Shipping, said the acquisition would strengthen the company’s operational capabilities.

“As we expand our dry bulk capacity, we continue to enhance our operational capabilities to deliver more efficient solutions to our customers,” he said.

He added that the company’s owned dry bulk fleet, comprising 16 vessels with a total capacity of around 3mn deadweight tonnes, will be the largest in the region, enabling it to better serve customers while keeping pace with rising global demand.

This new strategic investment reinforces Asyad Shipping’s dry bulk segment and supports its broader fleet expansion strategy and global ambitions.

As part of this strategy, Asyad Shipping recently took delivery of three Newcastlemax dry bulk carriers – Ain Garziz, Ain Razat and Ain Athum – named after natural springs in Dhofar. All three vessels have been secured on long-term charter contracts, providing immediate revenue visibility.

The investment in these vessels was first announced on September 28, 2025, with a total value of RO80.5mn ($209mn). Each Newcastlemax carrier has a capacity of 208,000 deadweight tonnes and is equipped with advanced environmental technologies, including an Exhaust Gas Cleaning System (EGCS) and a Ballast Water Treatment System (BWTS).

According to the company’s earlier disclosure, two of these new vessels will be recognised on the company’s balance sheet in the first quarter of 2026, with the third to be recorded in the second quarter.

Listed on the Muscat Stock Exchange, Asyad Shipping is one of the region’s leading deep-sea transportation companies, operating a globally diversified fleet of around 90 vessels. The company serves more than 60 countries across Asia, the Middle East and North Africa through five core segments: crude, dry bulk, gas, liner and products.