Latest news with #IbrahimbinBakhitalNadhairi
Observer
10-08-2025
- Business
- Observer
ASYAD Shipping profit grows 31% in 2024
Muscat - ASYAD Shipping has announced its financial performance in 2024, recording a 31 percent growth in profits compared to 2023. Its total assets reached RO1 billion, reflecting its balanced investment strategies and the sustainability of its operations spanning more than two decades. The company boasts a diverse fleet of more than 86 vessels, including very large crude carriers, container ships, bulk cargo ships, and natural gas carriers, with operations spanning more than 60 countries worldwide. Dr. Ibrahim bin Bakhit al Nadhairi, CEO of ASYAD Shipping, said that the company achieved strong financial and operational results in 2024, with net profits reaching RO51.5 million (equivalent to USD 133.9 million), recording a 31 percent growth compared to 2023. This reflects the company's efficient performance and flexibility in adapting to global market challenges. He pointed out that the shipping market is expected to continue to be affected by global economic and geopolitical challenges this year. He said that revenues rose to RO366.1 million (equivalent to $951 million), a 1 percent increase compared to last year, as a result of redirecting the investment portfolio towards fixed-term contracts, which contributed to enhancing financial stability. He explained that the VLCC and petrochemical tanker sectors continued to be the main sources of revenue, contributing more than half of the total annual revenues. The CEO of ASYAD Shipping Company said that the company recorded a 28 percent growth in total profits to reach RO105.9 million ($275.2 million), while operating profits increased by 33 percent to RO86.9 million ($225.7 million), thanks to improved operational efficiency and optimal investment of market opportunities. He stressed that ASYAD Shipping continued its efforts to support local content during 2024, awarding local contracts worth more than RO13 million (equivalent to RO34 million), with a clear focus on empowering small and medium enterprises and enhancing their role in the national economy. It also contributed to providing 122 direct job opportunities for Omani seafarers, in addition to implementing training programs to develop national competencies in the maritime sector. He pointed out that the Omanization rate at the company reached 90.6 percent, a step that reflects ASYAD Maritime Transport's drive to build a qualified national human capital base. Dr. Ibrahim Al Nazairi said that ASYAD Shipping continued to implement low-carbon transportation initiatives, contributing to a 6 percent reduction in emissions and a 5 percent improvement in fuel efficiency compared to the previous year, as part of its efforts towards digital transformation and environmental commitment. He pointed out that ASYAD Shipping is expanding its fleet by adding modern, technologically advanced vessels that meet global efficiency and sustainability standards. It is also developing its digital logistics system to enhance operational efficiency and provide innovative solutions to customers. The CEO of ASYAD Shipping Company stated that the company continues to invest in developing national talent through advanced training and qualification programs, in parallel with expanding the application of environmentally friendly maritime transport technologies, thus enhancing its global standing and ensuring the long-term sustainability of its business.
Observer
07-05-2025
- Business
- Observer
Asyad unveils Sohar Max wind-powered cargo vessel
MUSCAT: Asyad Group has introduced the Sohar Max, a pioneering cargo ship that harnesses wind power to enhance environmental performance in maritime transport. This 400,000-tonne vessel is equipped with five massive rotor sails, each standing 35 meters tall and five meters wide, developed in collaboration with Vale and Anemoi Marine Technologies. The innovative sails utilise the Magnus effect—a physics principle that leverages rotating cylinders to generate lift from wind—to reduce fuel consumption by 6% and cut carbon emissions by up to 3,000 tonnes annually per vessel. Anemoi's advanced folding system allows the sails to retract horizontally, enabling smoother navigation during port operations and under low-clearance structures, without compromising cargo handling or vessel performance. Dr Ibrahim bin Bakhit al Nadhairi, CEO of Asyad Shipping, said Sohar Max represents a transformative step toward net-zero emissions by 2050. 'Air propulsion technology opens new horizons for sustainable shipping, balancing economic growth with environmental responsibility,' he stated. Nasser bin Sulaiman al Azri, Vale Oman CEO, described the initiative as a milestone in the partnership with Asyad. 'This achievement reflects our shared commitment to building greener logistics solutions and reducing the environmental footprint of the global supply chain,' he said. The launch reinforces Asyad Group's ambition to lead the maritime industry's shift toward cleaner, more efficient propulsion systems and sustainability-driven operations. — ONA
Observer
12-03-2025
- Business
- Observer
Asyad Shipping listed on MSX
Asyad Shipping Company (Asyad Shipping) or ASC ), today, was successfully listed on the Muscat Stock Exchange (MSX) following the completion of its IPO. The Company raised RO128.1 million (equivalent to $332.8 million) from domestic and international investors. The bell ringing ceremony took place at 10 am this morning at the MSX, with the trading of Asyad Shipping's shares commencing under the ticker symbol ASCO. A total of 1,041,748,856 ordinary shares were offered to investors, representing 20 percent of the company's total issued share capital. The offer price was set at 123 baizas per share, with Asyad Shipping's market capitalization at approximately RO641 million ($1.66 billion). The Company has established a robust dividend policy, demonstrating its commitment to shareholder returns. The Company intends to declare a dividend of $58.0 million (approximately RO22.3 million) payable in March 2025 and a dividend of $75.0 million (approximately RO29.0 million) payable in September 2025. Looking ahead, based on projected performance for the year ending December 31, 2025, the company expects to declare a dividend of $75.0 million (approximately RO29.0 million), payable in March 2026. In 2026, the company expects to declare a fixed annual dividend of $150.0 million (approximately RO58.0 million), 50 percent of which, amounting to $75.0 million (approximately RO29.0 million), is expected to be paid in September 2026 based on the Company's performance for the six months ending 30 June 2026, and the remaining 50 percent of which, amounting to $75.0 million (approximately RO29.0 million), is expected to be paid in March 2027 based on the Company's performance for the year ending 31 December 2026. In 2027, the Company expects to declare a dividend based on 95 percent of the audited net income for the year ending 31 December 2027. The Company expects to pay 50 percent of this dividend in September 2027 and 50 percent in March 2028. Dr. Ibrahim bin Bakhit al Nadhairi, CEO of Asyad Shipping, said: 'I am incredibly proud to see Asyad Shipping listed on the Muscat Stock Exchange. Since our establishment in 2003, our journey has been marked by sustainable growth and global expansion, and we have successfully built one of the world's largest diversified shipping companies, leveraging Asyad Group's advanced infrastructure. As we look towards the future as a public company, we remain committed to supporting Oman's economic development, expanding our global operations, and creating value for our investors and partners by continuously seeking out new growth opportunities.' Asyad Shipping's public listing on the MSX allows domestic and international investors to invest in one of the world's largest diversified maritime shipping companies and a key player in the Omani economy. Haitham Salim Al Salmi, CEO of Muscat Stock Exchange, said, 'The listing of Asyad Shipping, a subsidiary of Asyad Group, on the Muscat Stock Exchange is an important step towards reinforcing the Exchange's position and opens new investment opportunities in the diversified maritime transport and shipping industry. Asyad Shipping is the first company to lists on the MSX this year, a valuable addition to the logistics sector on the Exchange. This listing elevates the market capitalization of the Exchange to approximately OMR 27,831,000,000, and the company will be one of the ten largest listed companies on the Exchange. Asyad Shipping's listing is aligned with the Oman Investment Authority's strategy to divest from some government assets, to support the economic diversification efforts and to achieve the objectives of Oman Vision 2040.'
Muscat Daily
12-03-2025
- Business
- Muscat Daily
Asyad Shipping shares steady on market debut after RO128mn IPO
Muscat – Asyad Shipping Company, one of the world's largest diversified maritime providers and a global leader in deep-sea transportation, successfully listed on the Muscat Stock Exchange (MSX) on Wednesday following the completion of its initial public offering (IPO). Shares of Asyad Shipping closed unchanged on their debut on the MSX on Wednesday, following the company's RO128.1mn IPO. Shares opened at 123bz per share on the first day of trading, matching the IPO offer price. The shares closed at the same level – 123bz – at the top of the IPO price range. More than 19mn Asyad Shipping shares were traded on the first day of trading, with total turnover reaching RO2.356mn, according to MSX data. The bell-ringing ceremony took place at 10:00 am on Wednesday morning at the MSX, with trading of Asyad Shipping's shares commencing under the ticker symbol ASCO. Through the IPO, a total of 1,041,748,856 ordinary shares were offered to investors, representing 20% of the company's total issued share capital. The offer price was set at 123bz per share, with Asyad Shipping's market capitalisation at approximately RO641mn. Asyad Shipping has established a robust dividend policy, demonstrating its commitment to shareholder returns. The company intends to declare a dividend of approximately RO22.3mn, payable in March 2025, and a further dividend of approximately RO29mn, payable in September 2025. Looking ahead, based on projected performance for the year ending December 31, 2025, the company expects to declare a dividend of approximately RO29mn, payable in March 2026. Commenting on the company's listing on the MSX, Dr Ibrahim bin Bakhit al Nadhairi, CEO of Asyad Shipping, said, 'I am incredibly proud to see Asyad Shipping list on the Muscat Stock Exchange. Since our establishment in 2003, our journey has been marked by sustainable growth and global expansion, and we have successfully built one of the world's largest diversified shipping companies, leveraging Asyad Group's advanced infrastructure. As we look towards the future as a public company, we remain committed to supporting Oman's economic development, expanding our global operations, and creating value for our investors and partners by continuously seeking out new growth opportunities.' Asyad Shipping's public listing on the MSX allows domestic and international investors to invest in one of the world's largest diversified maritime shipping companies and a key player in the Omani economy. Haitham Salim al Salmi, CEO of the Muscat Stock Exchange, said, 'The listing of Asyad Shipping is an important step towards reinforcing the exchange's position and opens new investment opportunities in the diversified maritime transport and shipping industry. Asyad Shipping is the first company to list on the MSX this year, a valuable addition to the logistics sector on the exchange. This listing elevates the market capitalisation of the MSX to approximately RO27.831bn, and the company will be one of the ten largest listed companies on the exchange.' 'Asyad Shipping's listing is aligned with the Oman Investment Authority's strategy to divest from some government assets, to support economic diversification efforts and achieve the objectives of Oman Vision 2040,' he added. Asyad Shipping is one of the world's largest diversified maritime providers and a global leader in deep-sea transportation, with a full suite of operational capabilities, including liner services, ship management, and chartering activities. The company operates 89 vessels, reaching over 60 countries. Asyad Shipping offers a comprehensive range of maritime shipping solutions across five key business segments: container ships, product tankers, dry bulk carriers, crude tankers, and gas carriers.
Muscat Daily
25-02-2025
- Business
- Muscat Daily
Asyad Shipping IPO's retail subscription ends on Wednesday
Muscat – Retail subscription for the initial public offering (IPO) of Asyad Shipping, the maritime transport arm of Asyad Group and one of the world's largest diversified maritime transport and shipping solutions companies, will end on Wednesday. The offering is open to Category II investors, which includes both retail and high-net-worth individuals, at a price of 123bz per share. The Category II offering comprises 260.44mn shares, representing 20% of the total IPO size. The IPO subscription period for Category I investors, which includes local and foreign institutional investors, will close on Thursday. The price per share ranges between 117bz and 123bz, with a total of 468.79mn shares, representing 45% of the total IPO offering. Asyad Shipping has offered 1.042bn ordinary shares, representing at least 20% of the company's total issued share capital, with the IPO valued at over RO128mn. This move aligns with Asyad Shipping's vision to expand its operational growth, diversify its business portfolio, and ensure long-term sustainability. The company's shares are expected to commence trading on the Muscat Stock Exchange (MSX) on 12 March 2025. The offering has attracted major investors who have secured 312.525mn shares, representing 30% of the total IPO, at a price of 123bz per share. Among them, Mars Development and Investment has committed to subscribing to 10% of the offering, while Falcon Investments, a subsidiary of the Qatar Investment Authority, has committed to 20% of the transaction. In collaboration with the Oman Chamber of Commerce and Industry (OCCI), Asyad Shipping has concluded a series of seven investor introductory sessions held across various governorates of Oman. These sessions were attended by business leaders and investors as part of the company's efforts to engage with potential stakeholders and educate them about the IPO process and investment opportunities. The sessions included a comprehensive company presentation highlighting growth opportunities, investment potential, and expected dividend distributions. During the introductory session at the Muscat Stock Exchange on Tuesday, Dr Ibrahim bin Bakhit al Nadhairi, CEO of Asyad Shipping, emphasised that the company is a leading global transport platform adhering to international standards. He highlighted the company's growth trajectory, strategic expansion plans, and competitive positioning in global maritime trade. He informed that Asyad Shipping aims to attract new investors, expand its partnership base, and grow its fleet, which currently comprises 89 vessels serving various industrial and commercial sectors across 60 countries, with a customer base exceeding 4,500 clients. Nadhairi reiterated that the IPO aligns with the objectives of Oman Vision 2040, reinforcing economic diversification policies, sustainable growth, and corporate governance principles. Ahmed bin Khamis al Shukaili, Senior Vice-President for Finance at Asyad Shipping, affirmed that the company maintains a strong financial position, with a sustainable growth trajectory and high sector-leading profit margins. He disclosed that the company's revenue reached $1.9bn by September 2024, supported by long-term contractual commitments. In 2023, the company's total revenue stood at $945mn, with an EBITDA margin of 68%. Shukaili highlighted that equivalent revenue from vessel leasing grew at a compound annual growth rate (CAGR) of 25%, reaching $733mn in 2023, compared to $470mn in 2021. He also confirmed that Asyad Shipping has planned investments ranging between $2.3bn and $2.7bn over the medium term. Asyad Shipping has adopted a strategic capital structure to support long-term growth and operational flexibility. The company's net financial debt stood at $1.21bn, rising to $1.229bn when including lease obligations, as of 30 September 2024. Shukaili further assured that Asyad Shipping maintains a positive cash position and strong cash flow, enabling it to self-finance operations and capital requirements. The company targets a net leverage ratio of approximately 2.5x adjusted earnings in 2025, reinforcing its commitment to financial efficiency and operational sustainability. Asyad Shipping is among the world's largest companies in maritime transport and shipping services, boasting a comprehensive portfolio of assets and operational capabilities. Its services include liner shipping, vessel management, and chartering operations, solidifying its position as a leading player in global shipping markets.
