Following the announcement of its fleet expansion plans, Omani diversified shipowner and operator Asyad Shipping has finalized an order for two product tankers at a Chinese shipyard.
Foreign media reports indicate that Asyad Shipping has placed an order with Lianyungang Wuzhou Shipbuilding Industry for two 49,200 DWT product tankers. This new shipbuilding project stems from the company’s fleet expansion plan announced earlier this year, which detailed a strategy to expand its crude oil and natural gas transportation business based on a multi-year capital plan.
In June 2025, Asyad Shipping announced plans to invest between $2.3 billion and $2.7 billion in fleet expansion, revealing that over $1 billion of this investment has already been secured for vessel projects scheduled for delivery by 2027.
Asyad Shipping’s fleet expansion plan involves both newbuildings and second-hand acquisitions. The company has strengthened its partnerships with major oil transportation clients through the acquisition of two Very Large Crude Carriers (VLCCs).
According to shipping brokers, the acquisition of two VLCCs cost $205 million. The vessels, named “Landbridge Wisdom” and “Landbridge Glory,” were both constructed by Chinese shipyards with delivery dates in 2020 and 2019, respectively. They represent modern ship designs.
In addition to ship transactions, Asyad Shipping has raised $333 million from domestic and international investors since its initial public offering in early 2025.
According to its official website, Asyad Shipping is a subsidiary of the Asyad Group. Since its establishment in 2003, it has been a key player in global trade. The company currently operates a diversified fleet of over 90 vessels with a total deadweight tonnage of 11.4 million tons. Based on incomplete statistics, the fleet comprises 18 crude oil tankers, 35 product tankers, 16 dry bulk carriers, 6 gas carriers and 5 container ships.
According to data from the Jiangsu Society of Naval Architects and Marine Engineers, Wuzhou Shipbuilding Industry was established in 2007. It occupies a total area of 880,000 square meters and boasts 11 kilometers of coastline.
The shipyard possesses two 10,000-ton slipways, two 30,000-ton slipways, and five 50,000-ton slipways. It is equipped with various processing workshops, including a steel pre-treatment line and a section prefabrication yard. Currently certified by classification societies such as the China Classification Society (CCS) and RINA, the facility is capable of constructing various merchant vessels under 100,000 tons.