ADNOC Logistics & Services has announced the acquisition of five modern Very Large Gas Carriers (VLGCs) and six Very Large Crude Carriers (VLCCs) for a combined investment of approximately US$ 1.3bn (AED 4.8bn), according to a press statement.
The investment will rapidly expand ADNOC L&S’ gas and crude oil shipping capacity and support ADNOC Group’s integrated value chain and continued growth in production, trading and export volumes.
Nine of the vessels, six VLCCs and three VLGCs, were acquired on the secondary market and are scheduled for delivery in Q3-2026. They will enter service with ADNOC immediately following delivery.
Newbuild vessels
The remaining two VLGCs are newbuild vessels acquired through a resale transaction from a leading Chinese shipyard, with delivery scheduled for Q4-2026.
“Our strong financial position and cash generation enable us to invest in growth and deliver sustainable shareholder value,” stated Captain Abdulkareem Al Masabi, CEO, ADNOC L&S.
The transactions provide near-term operational and earnings potential while increasing the scale, flexibility and resilience of the company’s shipping platform, the press note concluded.
