Latest news with #AsyadShipping
Observer
4 days ago
- Business
- Observer
MSX gains 51 points amid strong earnings
MUSCAT: The Muscat Stock Exchange (MSX) continued its upward trend last week, posting a gain of 51 points to close at 5,654 points, buoyed by positive earnings results from listed companies for the first half of 2025. This marks the fourth consecutive week of growth for the exchange, driven largely by improved financial performance and increased investor confidence. The financial sector index rose by 5 points, while the services sector added 7 points. The Shariah index remained steady at 449 points. In contrast, the industrial sector index fell by 70 points, pulled down by losses in companies such as Oman Flour Mills, Al Maha Ceramics, Voltamp Energy, and others. Trading activity surged, with the number of executed transactions rising by 14 per cent to 10,600, up from 9,290 the previous week. The value of trades remained high, totalling RO 82.4 million, as investment funds and institutions injected more liquidity into the market. Market capitalisation increased by RO 206.7 million, reaching RO 28.643 billion by the end of Thursday's session. OQ Base Industries led trading activity with a value of RO 21.9 million, accounting for 26.5 per cent of the total. Asyad Shipping and Bank Muscat followed, with trades worth RO 15.1 million and RO 14.4 million, respectively. A total of 42 securities gained in value, 29 declined, and 16 remained unchanged. Muscat Insurance topped the gainers, rising 20.3 per cent to 794 baisas. Oman Oil Marketing rose by 11.9 per cent to 750 baisas, and Dhofar Food and Investment climbed 11.2 per cent to 79 baisas. Oman Education and Training gained 10 per cent to 1,320 baisas, and Salalah Port Services added 8.3 per cent to 260 baisas. Among the losers, National Aluminium Products dropped 15.8 per cent to 85 baisas, while International Financial Investments fell 11.7 per cent to 135 baisas. Al Madina Investment declined 8.8 per cent to 41 baisas, and Oman Flour Mills dropped 7.6 per cent to 469 baisas. In corporate developments, Asyad Shipping announced the arrival of a new 308,000-tonne crude oil tanker, "Qurayyat", as part of a $206 million deal to acquire two tankers. The second vessel is expected soon. Liva Group, a major insurance company, has restructured its debt portfolio, consolidating loans into a new RO 63 million credit facility with Bank Sohar International, aiming to cut borrowing costs and improve capital allocation. Phoenix Power Company has confirmed it will distribute dividends on July 28, as approved during its AGM in March, at a rate of 3.5 baisas per share. — ONA
Zawya
16-07-2025
- Business
- Zawya
Oman: Asyad Shipping takes delivery of VLCC ‘Qurayyat'
MUSCAT - Asyad Shipping Company SAOG, a listed entity on the Muscat Stock Exchange (MSX) under the trading code ASCO, has announced the successful delivery of one of two Very Large Crude Carriers (VLCCs) it acquired earlier this year. The vessel was received on July 11, 2025 and has been named 'Qurayyat', reflecting the company's pride in Oman's identity and coastal heritage. The update follows a previous market disclosure made on April 30, 2025, which outlined the purchase of two VLCCs worth a total of $206 million. The second vessel is expected to be delivered soon, with shareholders and the market to be notified upon its arrival. The vessels, each with a capacity of up to two million barrels, are among the largest in the world and represent a strategic investment to strengthen Asyad Shipping's capacity in the global energy sector. In remarks reported by the Oman News Agency (ONA) on May 24, 2025, Emad bin Saeed Al Khaduri, Chief Commercial Officer of Asyad Shipping, said the acquisition is part of an integrated fleet expansion plan. He stressed that the new tankers are aligned with carbon neutrality standards, supporting the company's sustainability goals and enhancing its competitiveness in regional and international markets. As of April 2025, Asyad Shipping's fleet comprised 85 vessels, with ongoing plans to grow further across key shipping sectors, including crude oil, liquefied natural gas (LNG), ethylene, ammonia, and oil derivatives. The company also operates with flexible commercial models, offering short- and long-term contracts in addition to spot agreements to meet dynamic market needs. According to Al Khaduri, Asyad Shipping aims to invest between $2.3 and 2.7 billion as part of its expansion strategy, of which over $1 billion has already been committed. The pipeline includes additional tankers set to enter service in 2026 and 2027, including two LNG carriers, four crude oil carriers, and two product tankers. Through its international operations, particularly its trade office in Singapore, Asyad Shipping managed and operated 38 tankers in 2024, a performance that underscores its operational efficiency and leadership in the global maritime sector. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Observer
15-07-2025
- Business
- Observer
Asyad Shipping takes delivery of VLCC ‘Qurayyat'
MUSCAT, JULY 15 Asyad Shipping Company SAOG, a listed entity on the Muscat Stock Exchange (MSX) under the trading code ASCO, has announced the successful delivery of one of two Very Large Crude Carriers (VLCCs) it acquired earlier this year. The vessel was received on July 11, 2025 and has been named 'Qurayyat', reflecting the company's pride in Oman's identity and coastal heritage. The update follows a previous market disclosure made on April 30, 2025, which outlined the purchase of two VLCCs worth a total of $206 million. The second vessel is expected to be delivered soon, with shareholders and the market to be notified upon its arrival. The vessels, each with a capacity of up to two million barrels, are among the largest in the world and represent a strategic investment to strengthen Asyad Shipping's capacity in the global energy sector. In remarks reported by the Oman News Agency (ONA) on May 24, 2025, Emad bin Saeed Al Khaduri, Chief Commercial Officer of Asyad Shipping, said the acquisition is part of an integrated fleet expansion plan. He stressed that the new tankers are aligned with carbon neutrality standards, supporting the company's sustainability goals and enhancing its competitiveness in regional and international markets. As of April 2025, Asyad Shipping's fleet comprised 85 vessels, with ongoing plans to grow further across key shipping sectors, including crude oil, liquefied natural gas (LNG), ethylene, ammonia, and oil derivatives. The company also operates with flexible commercial models, offering short- and long-term contracts in addition to spot agreements to meet dynamic market needs. According to Al Khaduri, Asyad Shipping aims to invest between $2.3 and 2.7 billion as part of its expansion strategy, of which over $1 billion has already been committed. The pipeline includes additional tankers set to enter service in 2026 and 2027, including two LNG carriers, four crude oil carriers, and two product tankers. Through its international operations, particularly its trade office in Singapore, Asyad Shipping managed and operated 38 tankers in 2024, a performance that underscores its operational efficiency and leadership in the global maritime sector.
Arabian Business
14-07-2025
- Business
- Arabian Business
GCC IPOs raise $3.4bn in H1 2025 as Saudi Arabia dominates regional listings
The GCC region recorded 24 initial public offerings in the first half of 2025, raising a total of $3.4bn, according to a new report by Kuwait Financial Centre (Markaz). This marks a 6 per cent year-on-year drop in IPO proceeds, compared to $3.5bn raised from 23 IPOs during the same period last year. Despite the modest decline overall, Saudi Arabia continued to dominate the regional IPO landscape, while the UAE saw an 88 per cent decrease in proceeds compared to the first half of 2024. Gulf IPO proceeds by country Saudi Arabia was the clear leader, accounting for 85 per cent of total IPO proceeds in the region. Saudi Arabia: $2.8bn from 22 IPOs (Up 36 per cent YoY) UAE: $163m from 1 IPO – Alpha Data, a software firm (Down 88 per cent YoY) Oman: $333m from 1 IPO – Asyad Shipping Company Kuwait, Qatar, Bahrain: No offerings in H1 2025 The Industrials sector was the top performer, raising $1.4bn – nearly 43 per cent of all proceeds – led by Flynas and Asyad Shipping. Sector Proceeds Percentage share Industrials $1.4bn 43 per cent Real estate $576m 17 per cent Healthcare $505m 15 per cent Financial services $408m 12 per cent Technology $204m 6 per cent Consumer staples $136m 4 per cent Materials $102m 3 per cent Consumer discretionary $34m 1 per cent Of the 24 IPOs, 10 recorded positive returns by the end of H1 2025. Top performers: Asyad Shipping Company: +835 per cent since March 12 listing Umm Al Qura (Saudi Arabia): +51 per cent Underperformers Hedab Alkhaleej Trading Co.: –30 per cent Dkhoun National Trading Company: –27 per cent Service Equipment Co.: –26 per cent Flynas: –0.2 per cent overall (despite brief first-day drop of 3.4 per cent) GCC market performance – H1 2025 Market indices showed mixed results in the first half of 2025: Market YTD performance Boursa Kuwait +18.1 per cent Dubai Financial Market +10.6 per cent Abu Dhabi Exchange (ADX) +5.7 per cent Qatar Stock Exchange +1.7 per cent Muscat Securities Market –1.7 per cent Bahrain Bourse –2.1 per cent Saudi Tadawul –7.6 per cent Saudi Arabia is expecting to continue its dominance in the IPO market with strong activity across multiple sectors by PIF-led listing while the UAE expects to witness activity in the industrials and technology sectors. Moreover, Kuwait's Capital Markets Authority has officially launched a new regulatory framework to support the listing and trading of emerging companies on Boursa Kuwait in hopes to encourage public listings and enhance the Kuwaiti market
Zawya
14-07-2025
- Business
- Zawya
Markaz: GCC IPOs raise $3.4bln in H1 2025
Kuwait – Kuwait Financial Centre 'Markaz' released its research report titled 'Initial Public Offerings (IPO) in the GCC markets', stating that the region has seen 24 offerings during the year 2024 raising a total of USD 3.4 billion in proceeds, marking a 6% decrease compared to the previous year, where issuers raised USD 3.5 billion through 23 offerings. Geographical Allocation: Markaz's report stated that Saudi Arabia led the region in terms of IPO proceeds for the first half of the year, raising a total of USD 2.8 billion through 22 offerings which constituted 85% of the total GCC IPO proceeds during the year representing a 36% increase in IPO value compared to H1 2024. Alpha Data, a software firm in the United Arab Emirates was the only IPO for the country during the first half of 2025 raising USD 163 million. This marks a 88% decline in proceeds for the UAE compared to the same period last year. Moreover, Oman's Asyad Shipping Company was the only IPO in the country during the first half of the year raising USD 333 million. Kuwait, Qatar, and Bahrain saw no IPOs during the first half of 2025. Sector Allocation: The Industrials sector raised a total of USD 1.4 billion, accounting for nearly 43% of the total proceeds during H1 2025 from offerings led by Flynas' USD 1.1 billion IPO followed by Asyad Shipping Company and Itmam Consulting Company. This was followed by the Real Estate sector which accounted for 17% of total proceeds for H1 2025 with USD 576 million of which Umm Al Qura for Development and Construction contributed USD 523 million. The Healthcare sector raised USD 505 million of which Specialized Medical Company's IPO raised USD 500 million. The Financial Services, Technology, Consumer Staples, Materials and Consumer Discretionary sectors contributed 12%, 6%, 4%, 3% and 1% respectively. Post-Listing Performance: At the end of H1 2025, 10 out of the 24 IPOs had shown positive return compared to their offer price. Asyad Shipping Company which was listed on the 12th of March 2025, achieved the highest gain at 835% by the end of H1 2025. Saudi Arabia's Umm Al Qura for Development and Construction Company followed recording a gain of 51% during H1 2025. Flynas the largest IPO on Tadawul and the region during H1 2025 witnessed a 3.4% drop in the first day performance but ended the period recording a 0.2% drop compared to its offer price. On the other hand, many companies in the Materials sector witnessed negative returns compared to their offer price. Hedab Alkhaleej Trading Co. witness a decrease of 30% in its share price during H1 2025, Dkhoun National Trading Company decreased by 27% and Service Equipment Co. decreased by 26%. GCC Markets Performance The GCC equity market indices have experienced mixed performance in the first six months of 2025. Boursa Kuwait outperformed its GCC peers with a 18.1% increase year to date followed by Dubai Financial Market with a 10.6% increase. The Abu Dhabi Exchange (ADX) and Qatar Stock Exchange followed increasing 5.7% and 1.7% respectively. On the other hand, the Muscat Securities Market witnessed a decrease of 1.7%, Bahrain Bourse by 2.1% and Saudi Tadawul by 7.6%. GCC IPO Pipeline: Saudi Arabia is expecting to continue its dominance in the IPO market with strong activity across multiple sectors by PIF-led listing while the UAE expects to witness activity in the industrials and technology sectors. Moreover, Kuwait's Capital Markets Authority has officially launched a new regulatory framework to support the listing and trading of emerging companies on Boursa Kuwait in hopes to encourage public listings and enhance the Kuwaiti market -Ends- About Kuwait Financial Centre 'Markaz' Established in 1974, Kuwait Financial Centre K.P.S.C 'Markaz' is one of the leading asset management and investment banking institutions in the MENA region with total assets under management of over KD 1.44 billion (USD 4.67 billion) as of 31 March 2025. Markaz was listed on the Boursa Kuwait in 1997. Over the years, Markaz has pioneered innovation through the creation of new investment channels. These channels enjoy unique characteristics and helped Markaz widen investors' horizons. Examples include Mumtaz (the first domestic mutual fund), MREF (the first real estate investment fund in Kuwait), Forsa Financial Fund (the first options market maker in the GCC since 2005), and the GCC Momentum Fund (the first passive fund of its kind in Kuwait and across GCC that follows the momentum methodology), all conceptualized, established, and managed by Markaz. For further information, please contact: Sondos Saad Corporate Communications Department Kuwait Financial Centre K.P.S.C. "Markaz" Email: Ssaad@
