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    • Asyad Shipping Orders Six MR Product Tankers Worth US$308 Million

    By on July 9, 2026
    Asyad Shipping
    Asyad Shipping

    Asyad Shipping Company S.A.O.G Orders Six MR Product Tankers Supported by Five-Year Time Charter Contracts

    Muscat: Asyad Shipping Company S.A.O.G. is pleased to announce that it has signed shipbuilding contracts with Hyundai Heavy Industries Co., Ltd., a leading South Korean shipbuilder, for the construction of six Medium Range (“MR”) product tankers.

    The contracts were signed on 8 July 2026, for a total consideration of approximately £119 million (US$308 million). On the same day, the Company also signed the corresponding five-year time-charter contracts with a leading global energy company for all six vessels.

    The vessels are expected to be delivered from 2029, reflecting the Company’s disciplined and commercially focused approach to fleet expansion.

    Dr. Ibrahim Al-Nadhairi, Chief Executive Officer, commented:

    “We are delighted to partner with Hyundai on the construction of six MR tankers, with advanced eco-design specifications and enhanced fuel efficiency. Supported by long-term charter arrangements with a leading global energy company, this investment reflects our disciplined approach to capital allocation and our confidence in the long-term fundamentals of the product tanker market.”

    Each vessel has a deadweight of approximately 49,999 DWT and will feature the most advanced and fuel-efficient shipbuilding technologies and designs, representing the next generation of MR product tankers and further enhancing the Company’s long-term competitiveness.

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