Oman’s ASYAD Shipping Announces OMR 385 Million Revenue

Muscat: Muscat: Asyad Shipping has reported revenues of OMR385 million at the end of 2022 and a net profit of OMR54 million at end of 2022, a senior executive of the company said on Saturday.

Dr. Ibrahim Bakhit Al Nadhiri, Chief Executive Officer of Asyad Shipping and Drydock, at Asyad Group further said that the government subsidy has stopped since 2014.

He said that the company’s total assets exceeded OMR 577 million at the end of last year.

The cost of the regular maintenance cost of the company’s fleet amounts to OMR35 million, annually, he said, adding that the maintenance of the company’s fleet is carried at the Drydock in Duqm since 2014 ,except in some emergency cases.

He said that the fleet of Asyad Shipping stood at 84 ships for the various purposes at the end of last year. He said that the company has taken several initiatives for society which amounted to OMR1 million annually, including OMR600,000 for training of college students specialised in marine engineering and shipping.

He said that the fleet of Asyad Shipping reached 220 ports, worldwide. Asyad Shipping is working on sustainability and flexibility of its supply chains with the various international markets through direct shipping lines for transport of containers and general goods from their countries of origin.

Asyad Shipping also offers integrated logistics facilities to local business community and international business community, which contributed to diversification of the national economy and attraction of foreign investments and made Oman an international logistics hub.

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