Oman's Asyad Shipping Company has announced a US$209 million investment to acquire three Newcastlemax dry bulk carriers, reinforcing its fleet expansion strategy and global service capabilities, reported Oman Daily Observer.

The agreement was signed on September 25, with vessel delivery expected in the first quarter of 2026. Each ship will have a capacity of 208,000 deadweight tonnes and be equipped with Exhaust Gas Cleaning Systems and Ballast Water Treatment Systems.

CEO Ibrahim al Nadhairi said the investment supports rising global demand and strengthens Asyad's ability to deliver competitive logistics solutions. The vessels feature energy-efficient hulls and engines designed for thermal and mechanical applications.

Asyad also signed a 10-year contract of affreightment with a global mining company through its commercial arm, Oman Charter Company. The deal was finalised on September 22 and will commence in the second quarter of 2026.

The agreement builds on Asyad's longstanding customer relationships and supports its strategy to expand dry bulk operations. The company aims to remain agile in capital allocation to deliver value to shareholders and stakeholders.