Asyad revenue climbs to RO 713 million in decade
MUSCAT: Revenue at Asyad Group has surged nearly sixfold over the past decade, highlighting the rapid expansion of Oman’s national logistics champion as it strengthens its global footprint and supports the Sultanate’s ambitions to become a regional trade and transport hub.
The group marked its 10th anniversary this year under the theme “A Decade of Reliability Driving Global Connectivity”, celebrating a transformation that has seen revenues rise from RO 123.4 million in 2016 to approximately RO 713 million in 2026.
Dr Musallam bin Mahad Qatan, Chairman of Asyad Group, said the growth reflects the success of a long-term strategy focused on building an integrated logistics ecosystem capable of connecting Oman with regional and international markets.
Established in 2016, Asyad was created to consolidate Oman’s logistics assets under a unified structure and leverage the country’s strategic location along major international shipping routes.
Over the past decade, the company has expanded from a predominantly domestic operation into an international logistics group with activities spanning 76 cities across 24 countries.
Its shipping fleet has grown from 51 vessels in 2016 to more than 100 vessels today, while the company has broadened its portfolio to include six ports and terminals.
Operational activity has increased significantly across multiple business segments. At Duqm Drydock, the number of projects handled annually rose from 62 in 2016 to 258 in 2026.
The group’s express delivery business has also recorded substantial growth. Average daily shipments increased from 1,035 parcels in 2020 to 9,667 parcels this year, reflecting the rapid expansion of e-commerce and logistics services.
Qatan said the group’s recent growth has been supported by acquisitions, strategic partnerships and investments designed to strengthen integration across its logistics network.
Today, Asyad serves more than 90 destinations globally and connects over 200 commercial ports through an integrated network of shipping, ports, warehousing, freight forwarding and logistics services.
The company has also established 12 cargo consolidation centres in China and India, allowing shipments from multiple suppliers to be combined before export to Oman and regional markets.
The strategy is intended to improve supply chain efficiency, reduce costs and enhance the availability of goods for businesses operating in Oman.
A major milestone during the decade was the public listing of Asyad Shipping on the Muscat Stock Exchange, a move that strengthened governance, transparency and access to capital.
The company is also involved in one of the region’s largest transport infrastructure projects — the Oman-UAE railway. According to Qatan, construction progress has reached approximately 40 per cent, exceeding planned targets.
Once completed, the railway is expected to improve cargo movement, strengthen regional trade links and connect ports, industrial zones and markets through a faster and more sustainable transport network.
Beyond operational growth, Asyad has also expanded its contribution to local content development. Spending on local content increased from RO 40 million in 2018 to nearly RO 85 million in 2026.
The group has introduced initiatives such as the Asyad Accelerator and Supplier Development Programme to support SMEs and integrate more Omani companies into logistics value chains.
As Oman seeks to increase the contribution of logistics to national economic output, Asyad’s growth over the past decade highlights the sector’s expanding role in trade facilitation, supply chain development and economic diversification. — ONA
