Oman's Asyad Shipping Company has announced a US$209 million investment in three Newcastlemax dry bulk carriers as part of its fleet expansion strategy, reported Zawya.

The agreement, signed on 25 September 2025, was disclosed to the Muscat Stock Exchange. Delivery of the vessels is expected in the first quarter of 2026, with market updates to follow upon handover.

Chief executive Ibrahim al Nadhairi said the investment strengthens Asyad's dry bulk capacity and supports its broader growth strategy to meet rising global demand.

Each vessel will have a capacity of 208,000 deadweight tonnes and be equipped with an Exhaust Gas Cleaning System and Ballast Water Treatment System. The ships also feature energy-efficient hulls and optimised engines to meet IMO environmental standards.

Asyad Shipping reaffirmed its commitment to strategic capital expenditure, aiming to deliver sustainable returns for shareholders and stakeholders.

Separately, the company signed a 10-year contract of affreightment with a global mining firm through its commercial arm, Oman Charter Company. The deal was signed on 22 September and will take effect in Q2 2026.

Dr Al Nadhairi said the agreement complements existing customer relationships and enhances Asyad's ability to offer competitive global shipping solutions.