Asyad Shipping has agreed to sell 20% stakes in the companies that own two of its latest LNG carriers, Muscat LNG and Musandam LNG, to Omani investors, according to Splash247. The transaction brings domestic capital directly into Asyad’s gas-shipping platform while allowing the Muscat-listed owner to maintain operational control of both assets.
Transaction Details
Oman LNG Development Foundation Investment Fund and Mars Development and Investment will each acquire 10% of the vessel-owning companies behind the two carriers. Asyad will retain the remaining 80% in both companies. Financial terms were not disclosed in the Muscat Stock Exchange filing, as reported by Splash247.
Vessel Specifications
The two 174,000 cubic meter newbuildings were constructed by HD Hyundai Samho in South Korea. They are secured against long-term employment with Oman LNG. Muscat LNG was delivered in May, with sister vessel Musandam LNG following under the same fleet expansion programme. Delivery dates for Musandam LNG were not specified in the filing.
| Vessel Name | Capacity (cbm) | Builder | Delivery |
|---|---|---|---|
| Muscat LNG | 174,000 | HD Hyundai Samho | May 2026 |
| Musandam LNG | 174,000 | HD Hyundai Samho | Not disclosed |
Fleet and Expansion
Asyad operates a diversified fleet of around 90 ships, according to Splash247. The company most recently ordered six MR product tankers at HD Hyundai Heavy Industries in South Korea, adding another leg to its fleet expansion drive. The LNG carrier pair represents a key component of Asyad's gas-shipping platform.
Shipper and Operator Implications
For freight forwarders and LNG shippers, the ownership change has no immediate operational impact. Both vessels remain on long-term employment with Oman LNG, and Asyad continues to manage commercial operations. The transaction broadens the investor base for Omani LNG infrastructure while keeping day-to-day management under experienced operators. This structure could serve as a template for future vessel financing in the region, bringing domestic capital into shipping assets without ceding control.
Watch List
- Any additional orders or partnerships by Asyad, given its recent MR tanker order and fleet expansion trajectory.
- Further domestic investment rounds into Omani LNG shipping infrastructure.
- Delivery schedule for Musandam LNG and its entry into service with Oman LNG.
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