Oman-stocklisted Asyad Shipping has splashed out $209m on the purchase of three newcastlemax bulk carriers from 2020 Bulkers as it forges ahead with its fleet growth plans.
The expansionist-minded owner said on Sunday that it has made a “strategic investment” in the trio without naming the ships or the selling party.
On Friday, 2020 Bulkers said it had sold three of its newcastlemax bulkers — the 208,000-dwt Bulk Sandefjord and Bulk Santiago (both built 2019) and the Bulk Shenzhen (built 2020) — for $209m, which valued the ships at 10% above broker valuations.
But the company declined to name the buyer. At the time, Asyad was widely rumoured to be the purchaser.
Asyad said it has invested in the bulkers as part of its “growth strategy”.
It said the agreement to purchase the trio was signed on 25 September for a total consideration of $209m. The ships are expected to be delivered in the first quarter of 2026.
On Sunday, Asyad also announced that on 22 September it had inked a 10-year contract of affreightment with a global mining company through its commercial subsidiary Oman Charter Co. The COA will kick off in the second quarter of 2026.
Asyad said the bulker buy will make it a “major player in the region” and delivers on its fleet expansion plans while supporting its broader growth strategy and global presence.
Chief executive Ibrahim Al Nadhairi said: “With an increase in our dry bulk capacity, we are further strengthening our capabilities to deliver solutions for our customers while keeping pace with rising global demand. “Growing our dry bulk segment is part of our growth strategy as per our business plan, and executing this deal means we can meet rising demand and increase our service offerings to our customers.”
Asyad owns and operates a diverse fleet of around 95 vessels comprising VLCCs, product carriers, methanol tankers, feeder container ships and bulk carriers, including VLOCs and ultramaxes.
The company currently lists 17 bulk carriers under its control, 11 owned and six chartered.
The 2020 Bulkers trio will boost its bulker fleet to 20 vessels and looks set to be Asyad’s first newcastlemaxes.Asyad is in expansion mode following its debut on the Muscat Stock Exchange earlier this year.The company is set to ramp up its LNG carrier fleet renewal and growth efforts from next year. Al Nadhairi has signalled potential expansion into a new shipping sector, noting that Asyad’s fleet is projected to exceed 120 vessels by 2030.
