Oman-based Asyad Shipping Company S.A.O.G has further diversified its dry bulk capabilities by investing in the purchase of two second-hand dry bulk carriers as part of the company’s fleet expansion strategy. 

Announcing the capesize purchases, Asyad Shipping Company said in a filing to the Muscat Stock Exchange that it further boosts its dry bulk fleet with the purchase of two baby-capesize vessels of 100,309-dwt each.

Dr. Ibrahim Al-Nadhairi, Asyad Shipping chief executive officer, commented: “While we continue to diversify across shipping segments, we are equally focused on strengthening our capabilities within each of our shipping segments.

“Our continued investment in larger dry bulk vessel classes is a strategic step driven by growing customer demand for larger, more efficient ship types as commodity markets and trade patterns continue to evolve.

“The addition of the baby-capesize vessels strengthens our ability to better serve our customers, support changing cargo flows, and reinforce our position as a leading dry bulk operator in the region.

“Dry bulk remains a key growth area for us, and we see significant opportunities to support our customers while contributing to the continued growth of the Omani economy and the wider region.”

The Muscat-listed shipowner said it had agreed to buy the two second-hand vessels for a total consideration of approximately 29.2m (around US$75.8m). The company signed the deal on May 21, 2026.

One vessel was built in 2020 and the other in 2021, each with a capacity of 100,309 deadweight tonnes.

The pair is expected to be delivered in September 2026. Upon delivery, both vessels will be employed on three-year time-charters with a “leading,” as the company said, “international dry bulk freight operator.”   

The company highlighted that it would update the market when the vessels have been delivered.

With around 90 vessels, the company serves its blue-chip customers through its five business segments: crude, dry bulk, gas, liner and products.