By: OrePulse

Muscat-listed carrier Asyad Shipping has reached agreements to sell three of its aging tankers for a combined $178 million, extending a fleet renewal campaign that pairs the disposal of older vessels with a growing newbuilding program centered in South Korea. The sales cover two very large crude carriers and one mid-range product tanker; buyers in both transactions were not disclosed.

The two 2011-built VLCCs, Seeb and Samail, were sold together for $160.5 million. Al Amerat, an MR product tanker built by STX and delivered in December 2008, was sold in a separate deal for $17.5 million.

Seeb, at 319,439 deadweight tons, was constructed at South Korea's DSME shipyard, while the 302,845-dwt Samail was built in Japan. Al Amerat measures 51,022 dwt. The sale of Seeb and Samail left Asyad without any crude carriers remaining from its 2011 build year.

The move followed a similar sale agreed late last year, when the sister-vintage VLCC Saiq changed hands for $60 million in a deal that closed during the first half of 2026 and was expected to add roughly $20 million to earnings. Asyad said at the time that it would keep pursuing sales of older ships and reinvest the proceeds into fleet growth.

Even as it sold older tonnage, Asyad kept expanding its newbuild order book in South Korea. The carrier's VLCC program now totals seven 300,000-dwt vessels at Hanwha Ocean: four ordered in 2024 at roughly $130 million apiece, plus three more ordered this year for a combined $388.5 million, all due for delivery in 2028 and 2029. Bidbid, the first vessel from the earlier batch, reached the fleet in May, two months ahead of schedule. Three more were expected during the second half of 2026, and two of those already had long-term charters secured as of Asyad's half-year results.

A parallel buildout was under way in the product tanker segment. Asyad exercised options for two additional 49,999-dwt MR tankers at HD Hyundai, expanding that program to eight vessels with combined investment of around $411.6 million. All eight vessels carry five-year charter agreements, with deliveries scheduled to begin in 2029. The HD Hyundai orders mark Asyad's second major newbuilding commitment of 2026, alongside the Hanwha Ocean VLCC additions.

The carrier has been particularly active on both sides of the tanker market since its listing in Muscat, alternating large newbuilding commitments with periodic sales of older tonnage. Asyad's first-half capital spending more than doubled, to OMR260.4 million, while net profit climbed 92 percent to reach OMR38.9 million. In August, the company said favorable pricing for older vessels had created an opening to speed up fleet renewal without slowing the addition of modern tonnage.

Asyad's fleet totaled 91 vessels at the end of June — 79 in operation and 12 on order — before a further round of investments since then.