Oman’s state-owned shipping company Asyad Shipping (formerly Oman Shipping) has completed the acquisition of two very large crude carriers (VLCCs) for US$205 million. This is not only the world’s first VLCC transaction after 11 months, but also a new record for VLCC transaction prices.
Shipbrokers believe that Asyad Shipping is acquiring two VLCC sister vessels, the Landbridge Wisdom and the Landbridge Glor, both built by Dalian Shipbuilding Industry Corporation(DSIC), a subsidiary of China State Shipbuilding Corporation (CSSC), for delivery in 2019 and 2020, respectively.
This type of VLCC is 332.95 meters long, 60 meters wide, 30 meters deep and has a maximum deadweight of 308,000 tons. It is an unlimited navigation area vessel with a cruising range of more than 25,000 nautical miles. With a designed draft of 20.5 meters, it can normally carry 2 million barrels of crude oil through the Strait of Malacca.
The vessel is equipped with a desulfurization device, which effectively reduces sulfide emissions during voyage. The vessel has remarkable energy-saving features, with excellent hull lines, a more energy-efficient G-type main engine and a new large-diameter high-efficiency propeller, and is equipped with high-efficiency energy-saving combination devices in front and behind the propeller with independent intellectual property rights.
Previously, Asyad Shipping announced that it would spend US$2.7 billion to expand its fleet, which is scheduled to be carried out in 2025. Earlier this year, Asyad Shipping raised US$333 million through an initial public offering and launched a fleet expansion plan, which is expected to add a total of 33 ships including tankers, gas carriers and cargo ships to meet the growing demand for shipping services in Europe and Asian markets such as Japan and South Korea.
Asyad was founded in 2003 and is owned by Oman’s sovereign wealth fund. It currently operates more than 90 vessels, including crude oil tankers, product tankers, gas carriers, dry bulk carriers and container ships.