Asyad Shipping Sells Stake in Two New LNG Carriers to Omani Partners

Asyad Shipping has sold a significant portion of its stake in two new-build liquefied natural gas carriers, Muscat LNG and Musandam LNG. The company has partnered with Oman LNG Development Fund (ODF) and Mars Development and Investment LLC (Mars), who will each hold a 10% shareholding in the companies that own the vessels.

The agreement was signed on July 26, with Asyad Shipping retaining an 80% shareholding in each company. The partnership is seen as a strategic move to strengthen Oman's shipping and logistics sectors.

'This partnership marks another important step in strengthening the national shipping industry and logistics sectors', said Dr Ibrahim al Nadhairi, CEO of Asyad Shipping. 'The participation of strong Omani funds as partners in Muscat LNG and Musandam LNG reflects the confidence placed in these projects and reinforces our commitment to delivering in-country value while supporting economic development.'

The two carriers are on a charter agreement to Oman LNG under a long-term contract, with Asyad Shipping serving blue-chip customers through five business segments: crude, dry bulk, gas, liner, and products. The company operates one of the largest globally diversified fleets, with approximately 90 vessels, serving customers in more than 60 countries.