ADNOC Logistics & Services (ADNOC L&S) has agreed to acquire 11 tankers for approximately $1.3 billion, expanding its crude oil and liquefied petroleum gas (LPG) shipping capacity to support ADNOC Group's growing
ADNOC Logistics & Services (ADNOC L&S) has agreed to acquire 11 tankers for approximately $1.3 billion, expanding its crude oil and liquefied petroleum gas (LPG) shipping capacity to support ADNOC Group's growing production, trading and export activities.
The acquisition comprises five very large gas carriers (VLGCs) and six very large crude carriers (VLCCs). Nine vessels - six VLCCs and three VLGCs - were acquired on the secondary market and are scheduled for delivery in the third quarter of 2026, after which they will enter service with ADNOC L&S.
The remaining two VLGCs are newbuild vessels acquired through a resale transaction from a Chinese shipyard and are scheduled for delivery in the fourth quarter of 2026.
Following the deliveries, ADNOC L&S' fleet will comprise 14 VLCCs and 12 VLGCs, increasing the company's capacity to transport crude oil and LPG across international markets.
"This $1.3 billion investment reflects the disciplined execution of our growth strategy and our commitment to building world-class maritime logistics capabilities for the energy sector. By adding 11 vessels, we are expanding our capacity to support
“ADNOC’s growing exports, serve customers in key markets and capture opportunities in international energy trade. Our strong financial position and cash generation enable
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