Introduction Asyad Shipping Company SAOG is committed to adhering to the provisions of corporate governance as approved by the Board of Directors (“the Board”). The Board and Asyad Shipping Company SAOG Executive Management are dedicated to achieving high levels of transparency, accountability, and ethical business conduct, with the ultimate goal of enhancing long-term shareholder value while addressing the interests and needs of all stakeholders. The company is committed to adopting the best global practices of corporate governance, as well as complying with all relevant regulations. Governance Structure Asyad Shipping Company SAOG was established in 2003 with a vision to be the partner of choice in maritime transportation and a mission to offer reliable, efficient, and competitive shipping solutions to our clients. The company is owned by Asyad group. To achieve and sustain success, Asyad Shipping believes that adopting and implementing strong governance is essential. Accordingly, the company is committed to applying and complying with corporate governance principles per the applicable laws, the articles of association, the policies and guidelines of Oman Investment Authority (OIA), and international best practices. Governance, as defined in the Code of Corporate Governance issued by OIA (“Code”), is “a set of principles, measures and procedures that achieve institutional discipline and managing the company by defining roles and responsibilities of the Board of Directors (“BoD”) and executive management of the company, whilst safeguarding shareholders’ rights and interests.” Through this report, Asyad Shipping outlines its governance framework. Shareholders exercise their rights at the Annual General Meeting (“AGM”), which is the supreme governing body of the company. The AGM elects the Board of Directors, approves the company’s articles of association, appoints statutory auditors, reviews and approves the annual auditors’ report, and decides on any reserve matters.
Asyad shipping’s ownership structure
Asyad Group SAOC
100% ownership
Asyad Shipping Company SAOG
100% ownership
Asyad Ship Management Company SPC
Oman ship Managment Company LLC
Oman Charter Company LLC
Asyad Lines LLC
Asyad Shipping Pte. Ltd.
100% ownership
100% ownership
100% ownership
100% ownership
100% ownership
40 | Asyad Shipping Annual Report 2024
Asyad Shipping Annual Report 2024 | 41
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