Asyad Shipping, the maritime arm of Oman’s integrated logistics powerhouse, continues to make waves in 2025 - expanding its fleet, advancing sustainability, and strengthening its global footprint.
IPO and Financial Upswing
Asyad Shipping marked a milestone in March 2025 by successfully launching its initial public offering (IPO), floating a 20% stake on the Muscat Stock Exchange.
The IPO raised approximately US$332.8 million positioning the company with a market capitalization of around US$1.66 billion.
Key anchor investors included Mars Development and Investment LLC and Falcon Investments LLC, a subsidiary of the Qatar Investment Authority.
Financially, this strategic move coincides with Asyad Shipping reporting strong performance in 2024: a robust 31% increase in net profit year-on-year, attributed to strategic deployment of high-value assets totaling US$2.6 billion.
Asyad Shipping Announces Offer Price Range for Shares on Muscat Stock Exchange
The company also plans to distribute significant dividends, with reports indicating an annual dividend of around US$150 million for both 2025 and 2026.
Fleet expansion - Marching toward excellence
Fleet growth remains central to Asyad’s strategy. In the first half of 2025, the company acquired two Very Large Crude Carriers (VLCCs), MT Qurayyat and MT Awabi, boosting its VLCC fleet to 18 vessels.
These sister ships, built in 2019 and 2020 with energy-saving and desulfurization features, underscore Asyad’s commitment to both capacity and eco-efficiency.
Beyond that, Asyad took delivery of two newly constructed product tankers, bringing the overall fleet to approximately 85 vessels across multiple cargo categories.
It has earmarked US$2.3 to US$2.7 billion for future investments; already over US$1 billion has been committed. Projections include adding two LNG carriers, four more crude oil carriers, and two product tankers scheduled to enter service in 2026 and 2027.
Previously, there was a broader plan to acquire 30 additional vessels to serve East Asian and European routes.
Green Innovations and Decarbonization
Asyad continues forging ahead with environmental leadership in maritime logistics. It unveiled “Sohar Max,” a mega cargo vessel featuring wind propulsion via five towering rotor sails - each 35 m tall - capable of reducing fuel consumption by 6% and slashing CO₂ emissions by 3,000 tonnes annually per vessel.
The sails can fold for compatibility with port and bridge operations, underscoring Asyad’s commitment to intuitive, green innovation aligned with Oman Vision 2040.
The company has also invested over US$64 million since 2019 in broad decarbonization measures, ensuring that its full fleet meets advanced environmental compliance standards.
Integrated logistics and project excellence
Asyad’s integrated logistics operations delivered an oversized industrial unit from Sohar to Muscat, highlighting its robust capability in complex cargo handling for Oman’s industrial expansion.
Another headline-maker was the launch of a Safe Customs Corridor between Khazaen Dry Port and Sohar Port, which enhances container flow and supply chain efficiency. Khazaen Dry Port also linked up with the global CMA CGM network as a final container destination, bolstering Oman’s trade connectivity.
In addition, Asyad Drydock hit a record and completed 232 projects in 2024, marking its best performance since operations began in 2011 and reinforcing its leadership in regional ship repair services.
Conclusion
Asyad Shipping stands out as a dynamic force steering Oman’s maritime future. The company is balancing aggressive fleet expansion with clean energy innovations, strong financial performance backed by successful IPO and investor confidence, and deepening its integrated logistics operations.
Asyad’s blend of technological advancement, sustainability, and national talent development positions it at the forefront of global logistics and as a bright emblem of Oman’s economic vision.
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