Latest news with #Asyad
Observer
2 days ago
- Business
- Observer
Asyad Shipping sees 31% profit surge in 2024
MUSCAT: Asyad Shipping has reported exceptional results for 2024, with profits rising by 31 per cent compared to 2023. The company's total assets have reached RO 1 billion, reflecting its prudent investment strategies and over two decades of sustainable operations. Its fleet of more than 86 vessels includes very large crude carriers (VLCCs), container ships, bulk carriers, and LNG tankers, serving over 60 countries worldwide. CEO Dr Ibrahim bin Bakhit al Nadhiri said the company posted net profits of RO 51.5 million ($133.9 million), a 31 per cent increase year-on-year, underlining its resilience and adaptability to global market challenges. Revenues rose 1 per cent to RO 366.1 million ($951 million), driven by a shift towards fixed-term contracts that bolstered financial stability. The VLCC and petrochemical tanker segments remained the top earners, accounting for more than half of annual revenues. Gross profits grew 28 per cent to RO 105.9 million ($275.2 million), while operating profits rose 33 per cent to RO 86.9 million ($225.7 million), aided by operational efficiency and strategic market investments. In 2024, Asyad Shipping awarded local contracts worth over RO 13 million ($34 million), with a strong focus on empowering SMEs and contributing to the national economy. The company also created 122 jobs for Omani seafarers and offered training programmes to strengthen local maritime expertise. The Omanisation rate reached 90.6 per cent, highlighting Asyad's commitment to building skilled national talent in line with Oman Vision 2040. On the sustainability front, Dr Al Nadhiri said the company cut emissions by 6 per cent and improved fuel efficiency by 5 per cent compared to 2023, through low-carbon transport initiatives and digital transformation efforts. Asyad Shipping is expanding its fleet with modern, technologically advanced vessels meeting international standards, while enhancing its digital logistics systems to improve efficiency and offer innovative customer solutions. The company remains committed to investing in Omani talent and environmentally friendly maritime technologies, ensuring long-term growth and global competitiveness. — ONA
Observer
02-07-2025
- Business
- Observer
Asyad Shipping's training initiative strengthens Oman's status in global trade
MUSCAT, JULY 2 As part of Oman Vision 2040, Asyad Shipping has trained 230 Omani nationals to work on commercial vessels under a first-of-its-kind initiative launched in 2023. The programme is a strategic step forward towards bolstering Oman's maritime strength, accelerating Omanisation, and advancing the status of Oman on global trade routes. Out of the total trainees, 30 were posted as deck officers and engineers and 200 as assistant engineers and navigational support staff. Omanis are being systematically trained for such work at sea for the very first time, hitherto held by expatriates—reflecting a shift towards specialist national recruitment and long-term sustainable workforce. The work was highlighted at the Omani Seafarers Day event by the Ministry of Transport, Communications and Information Technology as a national seafaring development success. Offered by intensive study in conjunction with hands-on practice on Asyad's ships, training gave participants the technical and operational skills they needed. The majority were successful in overcoming initial challenges in acclimating to ship life, assisted by other Omanis on the ship, which provided high esprit de corps and perseverance. Kamila al Wahaibi, the responsible official for Omani sailors at Asyad Shipping, said: "Oman Vision 2040 invites us to cultivate a skilled and competitive national talent pool. This effort not only prepares Omanis with essential maritime skills but also secures the future of our national shipping fleet by investing in domestic talent." In addition to being a national workforce initiative, the programme brings Oman into the main fold of global maritime trade. As global shipping lanes become more strategically valuable, Oman's location—at the crossroads of East-West trade—makes them an essential hub for logistics. Preparing Omanis to crew and manage commercial vessels directly addresses the nation's capacity to facilitate and grow as part of global networks in commerce. The initiative, led under the guidance of Asyad's leadership, is a poster child of public-private partnership, which reflects the pillars of Vision 2040's economic diversification, private sector empowerment, and human capital development. By opening new opportunities to the sea profession, Asyad is not only revamping Oman's transport and logistics sector but also playing its part in cementing the Sultanate of Oman's place in the global economy as an educated, connected, and competitive trade nation.
Observer
02-07-2025
- Business
- Observer
Asyad Group completes major multi-origin air cargo operation to India
New Delhi: Asyad Group has successfully executed a complex international air cargo operation, transporting over 200 tons of critical electronics equipment for one of India's largest conglomerates. The large-scale shipment, completed under tight time constraints, involved airlifting cargo from China, Malaysia, South Korea, and the United Kingdom through multiple carriers and flight routes. This operation, which ranks among the largest consolidated airfreight deliveries carried out by Asyad in the Indian market, demonstrated the Group's capacity to manage high-value, time-sensitive cargo with precision and efficiency. The company deployed an optimized routing strategy and round-the-clock coordination to ensure on-time delivery to Indian entry points, while adhering to the client's strict SOPs and visibility requirements. Juma Al Maskari, Logistics Director at Asyad Group, said: 'We are proud to support Asia's dynamic supply chains and reinforce Asyad's role as a global end-to-end logistics player. What sets this operation apart is our ability to mobilize at scale and speed, delivering with precision from four global origins through a tech-enabled network built for reliability.' The shipment's success was driven by Asyad's global network, advanced logistics technology, and ability to synchronize complex international workflows while mitigating operational risks. The project not only reflects Asyad's growing footprint in Asian markets but also underscores the strategic value of Oman's location and the Group's integrated logistics capabilities. By strengthening trade corridors and delivering efficient solutions for critical sectors, Asyad continues to position itself as a trusted logistics partner in the region and a key player in global supply chain connectivity.
Zawya
16-06-2025
- Business
- Zawya
Oman's Asyad opens technical bids for drydock expansion consultancy
Oman's integrated logistics group Asyad has opened technical bids for its consultancy tender covering engineering, feasibility studies, and tendering support for the proposed expansion of its drydock. Technical proposals were submitted by AZD Engineering Consultancy and Engineering Systems Group, following the bid submission deadline on 3 June and technical opening on 4 June 2025. The scope of work includes yard expansion layout, evaluation of berth arrangement and dock options in terms of economic feasibility, revenue generation, environmental impact and operational efficiency. The tender documents were available for purchase from 6 May to 28 May 2025. A total of 18 local and international companies purchased the documents. Local participants included: Haskoning International Engineering Consultancy, Design Group Engineering Consultants, WSP International, AZD Engineering Consultancy, Moore Stephens, Dar Al Handasah, Meridian Engineering Consultancy, Maha Consulting Engineering, Modon Engineering Consultancy, Worley Oman Engineering, Almanarah Engineering Consultancy, Nicholson Jones Partnership, F M Middle East Engineering Consultancy, Egolesi Business Solutions, and Alghazi Engineering Consultancy. International bidders included Engineering Systems Group, Lloyd Engineering, and RINA Consulting. Asyad Drydock (formerly Oman Drydock Company - a subsidiary of Asyad Group) is located at the Port of Duqm, and features a 2,800-metre quay, a water depth of 9-10 metres, 14 sets of jib cranes and two graving docks with vessel handling capacity of up to 600,000 DWT, according to ASYAD's website. (Reporting by Deva Palanisamy; Editing by Anoop Menon) (
Observer
12-05-2025
- Business
- Observer
Asyad Group adopts Global Impact Disclosure Framework
MUSCAT: Asyad Group announced the launch of its 'Global Impact Disclosure Framework', marking it as the first Omani company and second global logistics provider to disclose its sustainability impact through the global framework established by the Impact Disclosure Taskforce, in collaboration with J P Morgan's Development Finance Institution. As one of the first logistics providers in the region to adopt this advanced global framework, Asyad is setting new standards for evaluating the impact of its development projects in relation to the UN Sustainable Development Goals (SDGs). This disclosure bolsters global financial market confidence and catalysis more green investments in Oman. The launch was announced during Asyad Group's participation in the Oman Sustainability Week 2025, where Asyad was also awarded the Platinum Award in ESG, for the second consecutive year, in recognition of its leading role in embedding sustainability standards across its operations and their innovative green logistics solutions that contribute to Oman's Net-Zero 2050 goals. Essam al Sheibany, Vice President of Sustainability at Asyad Group, emphasised that this disclosure reflects the Group's deep commitment to sustainable development and effective governance, stating: 'We believe that transparency is the foundation of real progress. This framework provides clearer visibility into the environmental and social impact of our logistics investments, enabling stronger partnerships and reinforcing our role in shaping a low-emissions, future-ready logistics sector.
