Oman’s Asyad Shipping has added further weight to its crude tanker ambitions, signing contracts for three new VLCCs at South Korea’s Hanwha Ocean. The state-linked owner, part of the Asyad Group logistics platform, confirmed it placed the order, covering three 300,000 dwt newbuilds at a total price of about $388.5m. The vessels are dual-fuel ready and will feature shaft generators, scrubbers and other efficiency-focused upgrades. Delivery of the trio is scheduled for 2028 and 2029. The deal builds on Asyad’s earlier VLCC push at the same yard. In 2024, the company secured four VLCC newbuildings at Hanwha Ocean for roughly $130m apiece, taking advantage of early delivery slots originally earmarked for 2026 and the first quarter of 2027. Asyad Shipping chief executive Ibrahim Al-Nadhairi said the latest contracts are a key part of the company’s fleet renewal programme, adding that the new tonnage will allow the owner to offer greater VLCC capacity within a younger and more fuel-efficient fleet. Listed on the Muscat Stock Exchange, Asyad Shipping completed an IPO in early 2025, raising around $333m to support a wider $2.7bn investment plan focused on fleet modernisation and growth. The company has said it plans to add around 30 vessels across its fleet, which already numbers about 90 ships, including 12 owned VLCCs and six chartered-in crude tankers. The Hanwha orders place Asyad alongside other heavyweight VLCC owners booking large crude carriers at the Korean yard, including DHT Holdings and Evangelos Marinakis-controlled Capital Maritime. The latest newbuild commitment comes as Asyad continues to reshape its fleet profile. In December 2025, the company agreed to sell four partially owned LNG carriers — Ibra, Ibri, Nizwa and Salalah — all built around 20 years ago, for about $110m. The vessels are expected to be handed over to their new owner in the first quarter of 2026. Asyad said the disposal reflects the growing regulatory and commercial pressures facing older tonnage and underlines its strategy of recycling capital from ageing assets into modern, more efficient ships. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsOman South Korea