MUSCAT – In a disclosure to the Muscat Stock Exchange (MSX), Asyad Shipping stated that, under the initiative implemented in line with the directives of His Majesty Sultan Haitham bin Tarik, the government will subsidise 50 percent of fuel and insurance costs for eligible food cargo shipments for a period of up to six months.
The company said the benefit will be transferred to customers transporting qualifying food cargo, supporting lower transportation costs and enhancing the reliability of essential food supplies entering Oman.
Dr Ibrahim Al-Nadhairi, Chief Executive Officer of Asyad Shipping, said the company is committed to supporting Oman’s food security objectives through dependable maritime transport solutions and stronger supply chains.
“As Oman’s national shipping carrier, we remain committed to providing dependable maritime transport solutions that strengthen supply chains and support the nations’ long-term economic goals over the duration of the programme,” he said.
Asyad Shipping currently operates a container liner vessel on the India-Oman route and said the programme is expected to positively impact its container shipping segment during the subsidy period.
The company added that the financial impact of the initiative is currently under assessment and will be reflected in its financial reporting where applicable.