Oman's Asyad Shipping Sells 3 Tankers to Advance Fleet Renewal
en.Wedoany.com Reported - On September 21, Oman's Asyad Shipping disclosed two vessel sale transactions involving two Very Large Crude Carriers (VLCCs), Seeb and Samail, as well as one medium-range product tanker, Al Amerat, with a total transaction value of approximately OMR 68.44 million, equivalent to about USD 178 million. The two VLCCs were sold for a combined price of approximately OMR 61.70 million, while Al Amerat was sold for approximately OMR 6.74 million. The transactions are part of the company's ongoing fleet renewal program.
Both Seeb and Samail were built in 2011, with Seeb having a deadweight tonnage of approximately 319,400 tonnes and Samail approximately 302,800 tonnes. According to the delivery arrangements disclosed by the company, the two vessels will not exit operations immediately; Samail is expected to continue operating until October or November, while Seeb is scheduled to operate until mid-January 2027 before being delivered to the buyer. Asyad Shipping received the deposits and advance payments for the relevant transactions on September 18. The sale of the two VLCCs is expected to generate a positive profit impact of approximately OMR 29 million, which will be recognized in the relevant reporting periods of 2026 and 2027 respectively.
The other vessel sold, Al Amerat, is a medium-range product tanker built in 2008 with a deadweight tonnage of approximately 51,000 tonnes. The vessel's transaction price was approximately OMR 6.74 million. The company received a 10% advance payment on September 20, with the remaining balance to be settled upon completion of delivery expected by the end of September. The transaction is expected to bring a positive profit and loss impact of approximately OMR 500,000. According to Asyad Shipping's existing fleet information, Al Amerat had previously been operated as a company-owned product tanker.
The vessel sales are being carried out in parallel with Asyad Shipping's ongoing newbuilding acquisitions. The company accelerated fleet modernization in 2025, including taking delivery of newbuild VLCCs, purchasing product tankers under construction, and increasing dry bulk vessel orders; as of the end of 2025, the company's fleet comprised 44 owned vessels, 4 joint venture-held vessels, and 32 chartered-in vessels.
Under the latest fleet renewal arrangements, Asyad Shipping has an additional 4 newbuild VLCCs scheduled to join the fleet by the end of 2026; the product tanker segment is also being supplemented with new vessels. In July of this year, the company ordered 6 MR product tankers of approximately 50,000 deadweight tonnes, scheduled for delivery from 2029 onward, in addition to 2 product tankers under existing orders. Following the sale of the two VLCCs built in 2011 and the Al Amerat built in 2008, the company continues to reduce older tonnage assets while advancing newbuilding deliveries.
