MUSCAT – The company disclosed to the Muscat Stock Exchange (MSX) that the transaction is expected to generate an aggregate gain of around RO 0.8 million (US$2.1 million) for the joint venture that owns the vessel. Asyad Shipping will recognise its 50 percent share of the gain, estimated at approximately RO 0.4 million (US$1.1 million), subject to final closing adjustments and accounting treatment.
Built in 2001, ‘Sohar LNG’ has been part of Asyad Shipping’s fleet since 2003 and was jointly owned with Japan-based Mitsui O.S.K. Lines, Ltd through a 50:50 joint venture arrangement.
The sale forms part of Asyad Shipping’s strategy to maintain a modern and efficient fleet by divesting older vessels in line with its fleet renewal programme.
The company said proceeds from planned divestments will support its ongoing expansion plans.
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