Asyad Shipping has signed a USD 389 mn agreement with South Korea’s Hanwha Ocean for three very large crude carriers (VLCCs), according to a disclosure (pdf). The order comes a few days after the Omani shipping major offloaded four partially owned LNG carriers as part of a company-wide effort to renew its fleet across segments.

The details: The VLCCs — each with a dwt of 300k — come with energy-saving tech and a dual-fuel engine that can run on both traditional and low-emission fuels.

Why this matters-

Regulatory compliance is key: With the EU’s Emission Trading System (ETS) moving to 100%enforcement this year, older, less-efficient vessels are all but certain to become financial liabilities for global shippers serving the European market. With delivery penciled in for 2028 and 2029, these three VLCCs would help Asyad serve the European market without incurring emissions surcharges that will plague older tonnage.

But what does the ETS entail? The ETS is effectively a carbon tax or a ‘cap and trade’ system that requires shipping companies to purchase allowances for 100% of emissions generated on voyages within the EU and 50% on voyages to or from the bloc. This is different from the FuelEU Maritime, which is more of a mandate-driven set of rules that require cutting emissions by displacing dirtier fuels. FuelEU Maritime entered into force in 2025 with a 2% emission reduction target, and is set to become more stringent in 2029.

Asyad has already been ramping up its energy-efficient fleet, with four VLCCs currently under construction at Hanwha Ocean — all with the same specs and set to be delivered this year. The company is also set to uptake two LNG tankers in 2026 with nearly 60% less energy consumption.

What’s next-

Watch out for future asset sales…: The company is expected to ramp up its fleet renewal efforts in the next few years as the FuelEU expands. We expect that the company will be flipping more of its aging assets as it expands operations.

… and new assets uptake in other segments: Currently, Asyad operations focus on the GCC, the Middle East, and Asian markets. Only its crude shipping segment — and, to a lesser extent, its LNG segment — serves Europe through contracts with global producers and traders. If the Omani major decides to push further into the European market, expect new orders for energy-saving vessels to serve its other segments, such as dry bulk and general products shipping.

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