Oman’s Asyad Shipping has confirmed a deal for two new LNG carriers in South Korea as part of its diversification strategy.
The former Oman Shipping Co said the two 174,000-cbm vessels will arrive from "first-class shipyard" Hyundai Samho Heavy Industries in 2026.
The carriers are designed to meet the latest and highest standards of sustainability and efficiency, the company added.
Asyad described the agreement as another step in its pursuit of a balanced and diversified fleet.
"Investment in LNG underlines Asyad’s commitment to a zero-emission maritime future," the company said.
"LNG is an important resource in this transition, seen as the cleanest and most sustainable fossil fuel, which places it in a prime position to dominate the energy transition towards zero-emission fuels," the shipowner added.
The order was announced by the yard in December.
The agreement is set to grow parent Asyad Group’s fleet to 70 vessels, meeting the anticipated increase in demand for LNG transport and energy logistics services in the global market.
Asyad already owns vessels including VLCCs, aframaxes, capesize bulkers, other LNG carriers and a VLGC.
VesselsValue assesses the fleet as worth $2.9bn.
Less fuel consumption
Asyad Shipping and Asyad Drydock chief executive Ibrahim Al-Nadhairi said: “The fifth-generation…LNG carriers meet the highest international standards of environmental and commercial sustainability, as well as boasting 58% less fuel consumption than the older, second-generation 138,000-cbm LNG carriers.”
“Furthermore, Asyad Shipping’s investment comes at a time when green energy demands are growing, exacerbated by international geopolitical developments and the dire need for decarbonised logistics and energy sectors,” he added.
TradeWinds had earlier reported that the company would be paying more than $254m each for the ships.
The deal is understood to include provision for a pair of optional LNG newbuildings.