Oman’s Asyad Shipping recently disclosed that it has placed an order worth about US$104 million with South Korea’s HD Hyundai Heavy Industries for two 49,999-dwt MR product tankers, bringing its newbuilding orderbook to eight vessels and further strengthening its fleet expansion ambitions.

Specifically, the Omani shipowner disclosed in a stock exchange filing that it has ordered two additional MR product tankers at a South Korean shipyard, with an estimated investment of about OMR39.89 million (approximately US$104 million) and delivery expected in 2029.

In short, the latest order shows that Asyad Shipping is further reinforcing its fleet expansion ambitions, bringing its newbuilding investment to about OMR159 million (approximately US$412 million). At the same time, Asyad Shipping has secured five-year long-term charters for the eight newbuild MR product tankers.

To date, Asyad Shipping operates a diversified fleet of more than 90 vessels, including 18 crude oil tankers, 37 product tankers, 14 bulk carriers, 5 container ships and 7 gas carriers.