Oman inks deal for two new LNG carriers worth over $500mln

Oman inks deal for two new LNG carriers worth over $500mln

MUSCAT: Asyad Shipping – part of Asyad Group, the Sultanate of Oman’s global integrated logistics service provider – has signed an agreement with South Korean shipyard Hyundai Samho Heavy Industries for the construction of a pair of state-of-the-art LNG carriers.

State-owned Asyad Group noted in a post on Thursday that the agreement signing, covering the supply of two new fifth generation LNG carriers, represents “another landmark in the Group’s expansion plans to bolster its energy logistics capabilities and meet growing global demand”.

According to a filing by the Korean shipyard to the local stock exchange, the order for the two LNG carriers is worth the equivalent of $505.5 million. It added that the vessels are slated for delivery by mid-2026.

Oman LNG, at whose disposal the new LNG tankers are expected to be placed, added in a tweet: “We are pleased to congratulate Asyad Group on the signing an agreement to build two fifth-generation LNG carriers. This step will constitute a milestone in supporting the economy and the logistics sector in the Sultanate of Oman. We wish them and the logistics sector in the Sultanate of Oman continued success.”

Yeongam-based Hyundai Samho Heavy Industries, a subsidiary of Korea Shipbuilding & Offshore Engineering (KSOE), is