Asyad adds six tankers + SAL’s new SF Airlines contract

Asyad expands its product fleet with OMR 119 mn order

Asyad bags another order: Oman’s Asyad Shipping signed an OMR 119 mn shipbuilding agreement with Hyundai Heavy Industries for six 50k-dwt medium-range product tankers, according to a press release (pdf). Deliveries will begin in 2029, with all six vessels backed by five-year time-charter contracts with an unnamed global energy company.

The wider fleet play: The order builds on Asyad’s OMR 1 bn five-year fleet expansion program, which includes two LNG carriers, four crude tankers, and two oil-derivative tankers entering service across 2026/2027. The company ordered three dual-fuel VLCCs for USD 389 mn earlier this year, with deliveries scheduled for 2028/2029.

Out with the old, in with the new: The expansion is running alongside the disposal of older gas tonnage. The firm sold its 2001-built Sohar LNG carrier for USD 23 mn in June, after agreeing to offload four other partially owned LNG carriers late last year.

Product tankers are already Asyad’s biggest fleet segment. Asyad operated 35 product tankers at the end of March, compared with 17 crude tankers, 17 dry-bulk vessels, five container ships, and three gas carriers. With two more product tankers already on order, the six-vessel Hyundai agreement takes its committed product fleet to 43.

SAL takes on SF Airlines’ Saudi operations

SAL adds SF Airlines to its roster: Saudi Arabia’s SAL has signed a one-year agreement to handle China’s SF Airlines cargo and ramp operations in the Kingdom, according to a bourse filing. SAL will provide cargo handling, aircraft loading and offloading, and other ramp services. The agreement has no fixed value, with the Chinese carrier paying for services as needed at the rates set under the contract.

The China footprint: SAL entered China last year through a strategic partnership with Tam Group to strengthen bilateral air-cargo flows. Its outbound expansion has since accelerated through a planned SAR 123 mn acquisition of Belgian handler Aviapartner Liège and the establishment of an Amsterdam-based subsidiary to lead its international ground-handling push.