Oman’s Asyad Group Merges Shipping, Ship Repair Businesses
- Business & Finance
Oman’s logistics provider Asyad Group has decided to integrate its shipping company Oman Shipping Company (OSC) and ship repair yard Oman Drydock Company (ODC).
The move is said to be in line with the group’s strategy to offer “integrated and highly efficient services.”
According to Asyad, the integration further connects Oman’s shipping services with “a comprehensive marine offering” that meets the group’s aspirations of providing global markets with end-to-end logistics solutions. This is part of Asyad’s strategic plan to elevate group-wide operational efficiency and consolidate complementing business activities.
“This move towards integration aims to raise the group’s efficiency and boost its economic and financial performance; ensuring its commercial sustainability and agility while contributing to the national economy,” Abdulrahman Salim Al Hatmi, Asyad Group CEO, said.
“Our group’s main objective is to fortify the Sultanate’s position as a logistic gateway to MENA markets… The group is constantly reviewing its operational, commercial and financial performance to remain adaptive to macro developments and keep pace with industrial trends nationally, regionally and globally,” he added.
The newest merger follows Asyad’s consolidation of Oman National Transport Company and the National Ferries Company (NFC) to standardize and unify the public transport services. Additionally, Asyad merged Duqm Development Company S.A.O.C (DDC) into Oman Drydock Company (ODC), to lower operational costs and accelerate business activities.
Recently, Asyad Group also transferred the business activities of Oman Logistics Company to a private company as the master developer of Khazaen Economic City.