Asyad Shipping, a subsidiary of Oman’s Asyad Group, has awarded a construction contract worth OMR150 million ($389 million) for three very large crude carriers (Asyad Shipping, a subsidiary of Oman’s Asyad Group, has awarded a construction contract worth OMR150 million ($389 million) for three very large crude carriers (

Asyad Shipping awards $400m contract to Korean shipyard

2026/01/15 21:24
2 min read
For feedback or concerns regarding this content, please contact us at [email protected]

Asyad Shipping, a subsidiary of Oman’s Asyad Group, has awarded a construction contract worth OMR150 million ($389 million) for three very large crude carriers (VLCCs) to Hanwha Ocean, a South Korean shipyard.

The VLCCs are expected to be delivered in 2028 and 2029, the company said in a statement to the Muscat stock exchange. 

Asyad Group is owned by the Oman Investment Authority, a sovereign wealth fund, and was established as part of the country’s plan to become one of the world’s top integrated logistics service providers by 2040.

Each VLCC  will have a capacity of 300,000 deadweight tonnage and will be dual-fuel ready – operating on conventional marine fuel and ready for conversion to lower-carbon fuels in the future, the statement said.

In March 2025, Asyad Shipping raised OMR128 million through an initial public offering of a fifth of its shares on the local stock exchange.

The company has already placed an order for four VLCCs with Hanwha Ocean in June 2024 and is slated to start receiving the vessels between 2026 and 2027, according to the IPO prospectus.

Asyad Shipping operates a fleet of 89 vessels and serves more than 60 countries. It transports liquefied natural gas, crude oil and other products.

Shares of the shipping company closed at OMR0.195 on January 14, up 4.3 percent.

Further reading:

  • Ships return to Suez but full-scale resumption a way off
  • The Arctic is melting the Middle East’s grip on seaborne trade
  • Maersk resumes Suez route after Red Sea stability
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Top Altcoins To Buy Before The ETF Season Kicks In

Top Altcoins To Buy Before The ETF Season Kicks In

The post Top Altcoins To Buy Before The ETF Season Kicks In appeared first on Coinpedia Fintech News The crypto market is moving into a new phase. With U.S. regulators approving fresh standards for exchange-traded funds (ETFs), a number of leading altcoins are now in line for listings. This could shape how investors position themselves in the months ahead. SEC Approval Opens ETF Path The U.S. Securities and Exchange Commission (SEC) has approved …
Share
CoinPedia2025/09/18 12:09
Token Unlock Wave Highlights Supply Overhang for Traders

Token Unlock Wave Highlights Supply Overhang for Traders

The post Token Unlock Wave Highlights Supply Overhang for Traders appeared on BitcoinEthereumNews.com. Altcoins 20 September 2025 | 04:17 Crypto traders are facing a steady drip of new supply this month, as project teams and early backers release fresh tokens into circulation. What looks like small percentages on paper is building into meaningful selling pressure across multiple ecosystems. Unlocks Becoming a Market Theme According to an analytics tracker, the past week alone saw millions of dollars’ worth of new coins enter the market from projects such as AltLayer, Blast, Avail, Venom, and Parti. AltLayer added roughly $3.5 million in tokens, while Blast introduced more than $2.3 million. In both cases, the amount represented less than 3% of circulating supply — yet the inflows still weighed heavily on trading sentiment. More Supply Ahead The trend is far from over. Another round of unlocks is scheduled for the week of September 22–28, with AltLayer once again leading the pack. By the time its next batch goes live, over 42% of its total supply will have been released. Other names, including KARRAT, XMW, and Yield Guild Games (YGG), will also add to the flow with their own token distributions. Unlocks matter because they create a constant overhang. Even if each release looks minor, stacked together week after week, they erode the balance between supply and demand. AltLayer’s back-to-back schedule makes this clear: the market isn’t just dealing with isolated events but with a pipeline of tokens waiting to be sold. Bigger Picture For traders, that means strategy has to adjust. Pricing these unlocks into positions becomes just as important as monitoring macro conditions or ETF inflows. While unlocks don’t guarantee downward pressure, the compounding effect is already a defining feature of September’s market — one that could shape trading dynamics well into the fourth quarter. The information provided in this article is for educational purposes only…
Share
BitcoinEthereumNews2025/09/20 09:22
XRP Ledger Plans to Become Native DeFi Lending Powerhouse

XRP Ledger Plans to Become Native DeFi Lending Powerhouse

The post XRP Ledger Plans to Become Native DeFi Lending Powerhouse appeared on BitcoinEthereumNews.com. The XLS-66 lending protocol, explained  The 80% validator
Share
BitcoinEthereumNews2026/03/08 15:53