Oman: Asyad Shipping JV to sell tanker Haima for $63.1mln

Asyad Shipping Company’s 50:50 joint venture with Japan’s Mitsui OSK Lines Ltd has agreed to sell its LR2 tanker Haima for approximately RO24.3mn, with the transaction expected to generate a gain of around RO19mn for the joint venture.

Under the memorandum of agreement signed on November 6, Asyad Shipping’s share of the expected gain will be approximately RO9.5mn, reflecting its 50% stake in the joint venture. The final amount will be subject to closing adjustments and the applicable accounting treatment, the company said in a disclosure to the Muscat Stock Exchange.

The tanker is expected to be handed over to its new owner in the second half of November. Built in 2009, Haima has been part of Asyad Shipping’s fleet since its construction.

The planned sale forms part of Asyad Shipping’s strategy to maintain a younger fleet and improve operational efficiency through the gradual divestment of older vessels.

This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →