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Asyad announced on January 11 that it entered into an agreement to sell its partially-owned LNG vessels Ibra, Ibri, Nizwa, and Salalah, which were built by the company 20 years ago, on December 23 for $110 million.
The shipping firm said in a stock exchange filing on Tuesday that the sale had been completed.
Ibra LNG was delivered to its new owner on February 10 2026, followed by the delivery of Nizwa LNG on February 16, 2026.
Asyad said all conditions related to the transaction of the LNG vessels have been satisfied, and the final proceeds for all the vessels have been received.
With the handover of the vessels to the new owner, these four assets have been derecognized from the company’s balance sheet, it said.
Asyad did reveal the name of the new owner.
The shipping firm previously noted that the disposal reflects the company’s ongoing efforts to optimise its fleet profile, particularly in light of the vessel’s age and older technology, as well as the increasing regulatory and commercial challenges associated with the emissions performance of older vessels in the current market environment.
According to its website, Asyad operates a diversified fleet of over 90 vessels with a total deadweight capacity (DWT) of 11.4 million tons.
Besides these four sold vessels, the LNG fleet includes the 2001-built Sohar LNG, and the 2014-built Adam LNG.
Asyad Shipping’s LNG ships support the transportation of LNG produced at Oman LNG’s Qalhat complex in Oman.
In December 2023, state-owned producer Oman LNG signed a long-term deal to charter two LNG carriers.
Prior to that, Asyad ordered two 174,000-cbm LNG carriers at South Korea’s Hyundai Samho Heavy Industries in December 2022.
