Oman’s Asyad Shipping Makes Bold $205M Move, Sets New VLCC Market Record
Oman’s maritime powerhouse, Asyad Shipping, has made headlines after securing two modern Very Large Crude Carriers (VLCCs) in a deal worth $205 million, setting a new benchmark in the global tanker market.
Formerly known as Oman Shipping Company, the cash-flush Asyad Shipping finalized the purchase of the 2020-built sisterships, Landbridge Wisdom and Landbridge Glory. Built by the renowned Dalian Shipbuilding Industry Corporation (DSIC), these high-spec VLCCs are the first modern supertankers to change hands in nearly a year — a notable move given the sector’s limited sale-and-purchase activity in recent months.
Market insiders highlight that this acquisition is more than just a fleet addition. It's a signal that Asyad is betting big on a bullish crude oil shipping market. The timing couldn't be better: OPEC's recent announcement of a production increase and current buoyant VLCC earnings — averaging around $55,000 per day — have reinforced positive sentiment across the tanker industry.
This move follows Asyad Shipping's successful $333 million IPO earlier this year, which provided the financial firepower needed to pursue an ambitious fleet growth strategy. The company has made it clear that expanding and modernizing its fleet is a top priority as it seeks to strengthen its position in the global shipping arena.
The $205 million double swoop is seen by analysts as setting a new price benchmark for modern VLCCs. It also reflects a broader trend of surging vessel valuations, driven by strong charter rates, tight tonnage supply, and recovering oil demand worldwide.
What This Means for the Market?
Asyad’s aggressive investment may trigger a ripple effect across the VLCC sector. Other owners, seeing asset prices on the rise, could be incentivized to re-enter the market, leading to an uptick in secondhand VLCC transactions. With tanker earnings staying strong and oil majors boosting production, the appetite for modern, fuel-efficient tonnage is expected to grow even further.
In an industry where timing is everything, Asyad Shipping’s latest move positions it well to ride the next wave of growth — and perhaps lead it.
