Oman’s Asyad Shipping is continuing its expansion in the dry bulk market, agreeing to acquire two modern baby capesize bulk carriers as it builds scale in larger vessel segments.

The Muscat-listed owner said it has struck a deal to purchase two secondhand 100,309 dwt bulkers for a total consideration of about $75.8m, with deliveries expected in September this year.

One vessel was built in 2020 and the other in 2021. Both ships have already secured employment and will enter three-year time charters with a leading international dry bulk operator upon delivery.

The acquisition deepens Asyad Shipping’s effort to expand and diversify its dry‑bulk offering, focusing on larger tonnage for shifting trade flows.

Chief executive Ibrahim Al-Nadhairi said demand from customers for larger and more efficient vessels was driving the company’s latest investment decision.

He noted that the addition of the baby capes would strengthen the company’s ability to support changing cargo flows and reinforce its position as a leading dry bulk operator in the region.

The latest transaction follows Asyad’s entry into the kamsarmax sector earlier this year. As reported by Splash in April, the company agreed to acquire two modern 82,000 dwt bulkers for about $73m as part of a broader fleet renewal and growth strategy.

The baby capesize purchase further extends that strategy, giving the company exposure to a vessel class commonly employed in transporting iron ore, coal, bauxite and other major bulk commodities on regional and long-haul routes.

Following completion of the latest deal, Asyad Shipping’s owned dry bulk fleet will rise to nearly 20 vessels, cementing dry bulk as one of the company’s key growth areas alongside its tanker, gas carrier and offshore shipping activities.