The deal, valued at around $520 million, involves deliveries scheduled for 2026 and the first quarter of 2027, according to multiple brokers.

TORM Acquires Eight MR Vessels, Expanding Fleet to 96 TORM Acquires Eight MR Vessels, Expanding Fleet to 96

Asyad Shipping, which owns a fleet of over 40 ships including around 10 VLCCs mostly built in South Korea, was previously tipped for two 320,000 dwt scrubber-fitted VLCC berths at Hanwha for approximately $128 million each.

Asyad Group, the state-controlled logistics giant of Oman, has also placed orders for LNG carriers in South Korea. The group is reportedly planning to float its shipping arm by the end of the year.