Asyad Shipping’s Asset Growth Surges 10% to RO 1.19bn: What This Means for Investors and Business Opportunities in Oman
MUSCAT: Asyad Shipping Company SAOG and its subsidiaries reported a nearly 10 percent increase in total assets, reaching RO 1.191 billion as of September 30, 2025, compared to RO 1.085 billion at the end of 2024. This majority state-owned company, part of the Asyad Group, attributed the growth primarily to increases in property, vessels and equipment, right-of-use assets, and trade receivables, according to its Consolidated Board of Directors report for the first nine months of 2025.
During this period, the company expanded its owned fleet from 47 to 49 vessels, while its chartered fleet grew from 36 to 38 vessels. Additionally, 11 new vessels are currently on order, supporting ongoing expansion and commercial growth.
Fleet additions in 2025 included two newly built Product Tankers and two second-hand Very Large Crude Carriers (VLCCs) named Qurayyat and Awabi. The company also acquired three second-hand dry bulk vessels, scheduled for delivery in the first half of 2026. Group investments in fleet expansion and equipment totaled RO 158.6 million during the year.
Despite these developments, net profit from the Group’s investments across ship owning, vessel charter hire, voyage activities, and ship management fell to RO 32.6 million for the nine-month period, down from RO 45.9 million during the same timeframe in 2024. Operating profit decreased to RO 51.3 million from RO 66.9 million, while gross revenue declined to RO 252.8 million from RO 274.9 million in the previous year.
The company commented that the Group’s 2025 performance reflects the cyclical nature of the shipping industry and prevailing market conditions. It highlighted the impact of geopolitical and trade uncertainties—including tariff changes and shifting global trade patterns—that have collectively dampened global demand and affected industry-wide results.
Special Analysis by Omanet | Navigate Oman’s Market
The 10% asset growth and fleet expansion by Asyad Shipping Company signal robust long-term confidence in Oman’s maritime sector, presenting strategic opportunities for businesses linked to logistics and trade infrastructure. However, the decline in profits amid geopolitical uncertainties and market cyclicality underscores significant short-term risks, advising smart investors to balance fleet expansion with agile risk management and diversification strategies in a volatile global trade environment.
