Omani Investors Acquire Stake in Asyad Shipping's LNG Carriers

Omani investors Oman LNG Development Foundation and Mars Development and Investment have acquired a combined 20% stake in Asyad Shipping's two new-build liquefied natural gas (LNG) carriers, Muscat LNG and Musandam LNG.

The transaction was announced on July 26, with each investment partner acquiring a 10% interest in the companies that own the vessels. Asyad Shipping retains an 80% controlling stake in each vessel-owning company.

The two ships were delivered to their charterer Oman LNG in May and are employed under long-term agreements. The deal reflects confidence in the projects and supports economic development, according to Chief Executive Officer Dr Ibrahim Al-Nadhairi.