Oman’s Asyad Shipping sets new VLCC pricing benchmark with $205m double swoop

Cash-rich Asyad Shipping, formerly known as Oman Shipping Co, has completed a deal for a pair of VLCCs, the first modern supertankers to change hands for 11 months.

Brokers link Asyad Shipping to the acquisition of the 2020-built sisterships, Landbridge Wisdom and Landbridge Glory. The ships were built at Dalian Shipbuilding and have gone for $205m en bloc, setting a new price benchmark. 

It has been almost a year since a modern VLCC changed hands, with Bahri as the last buyer. 

VLCC owners are currently riding a wave of enthusiasm as asset prices remain firm. OPEC recently announced a production hike, while average crude tanker earnings are buoyant at about $55,000 per day.

Earlier this year, Asyad Shipping raised $333m in an IPO and has since set about a significant fleet expansion plan.