ADNOC L&S invests $1.3 billion to acquire 11 vessels, boosting its oil and gas transport capacity with six VLCCs and five VLGCs.
ADNOC L&S Invests $1.3 Billion in 11 Large Carriers
ADNOC Logistics & Services has announced an investment of 4.8 billion dirhams, approximately $1.3 billion, for the acquisition of 11 vessels consisting of six VLCCs and five VLGCs. Nine second-hand ships are set to join the fleet in the third quarter, while two new VLGCs built in China will be added in the fourth quarter.
The Abu Dhabi-based energy transportation group ADNOC L&S has finalized a comprehensive acquisition package that simultaneously expands its crude oil and gas transportation capacity. According to the company's announcement on August 7, the deal encompasses six very large crude carriers and five very large gas carriers.
The nine second-hand vessels, comprising six VLCCs and three VLGCs, are planned to be delivered in the third quarter of 2026 and will enter service shortly thereafter. The remaining two VLGCs were acquired through the resale of newbuild contracts at a Chinese shipyard and are scheduled for delivery in the fourth quarter.
VLCC fleet will increase to 14, VLGC fleet to 12
Once the transaction is completed, ADNOC L&S's VLCC count will rise to 14, and its VLGC count will reach 12. The total fleet owned, chartered, and operated by the company exceeds 900 vessels. A month ago, the group also placed an order for four LNG carriers worth approximately $900 million at Jiangnan Shipyard in Shanghai.
ADNOC's growth strategy reinforces the tendency of the energy producer to control its transportation capacity through its own fleet and long-term commercial structures rather than leaving it to the spot market. Particularly, tonnage congestion from the Strait of Hormuz and the Red Sea has increased the value and strategic importance of readily available second-hand tankers.
Maritime Impact: The concentration of nine second-hand vessels in a single buyer may narrow the supply of modern second-hand VLCCs and VLGCs and support asset values. The immediate operational readiness of these vessels addresses ADNOC's short-term transportation needs, while the two new ships built in China indicate the role of Asian shipyards in the gas carrier market.
Source: SeaNews Türkiye
