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ASYAD contracts up $1bn
Asyad Shipping Company expects the global shipping market to remain strong for at least the next two to three years, driven by rising demand, changing trade routes, a shortage of modern vessels, and higher insurance costs. Its net profit rose 107% to around OMR 68 million in the first nine months of 2026, while contracted revenues stood at $2.7 billion through 2030. The company plans to expand its activity in the spot market, which contributed about 30% of third-quarter revenue, with its share potentially reaching 30% or more in 2027. Despite profit growth, there are currently no plans to increase distributions, as management prefers to direct cash toward investment and expansion.
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