ADNOC Logistics & Services (L&S) has signed contracts worth $4.4 billion to build 23 new  supertankers capable of transporting low-carbon fuels like ethane, ammonia, and liquefied natural gas (LNG).

According to the  UAE’s state news agency, the deal will strengthen the country’s energy logistics capabilities and boost global energy transition efforts.

ADNOC L&S’s joint venture, AW Shipping, has signed a $1.9 billion deal to build nine Very Large Ethane Carriers (VLECs) and four Very Large Ammonia Carriers (VLACs) with  China’s Jiangnan Shipyard.

The company also invested $2.5 billion to build up to 10 LNG carriers with  South Korean shipbuilders Samsung Heavy Industries and Hanwha Ocean.

ADNOC L&S’s diverse fleet, which now consists of approximately 800 owned, operated, and chartered vessels, enables the company to provide end-to-end logistical support to the ADNOC Group’s energy supply chain and its global partners.

The company is also expanding its worldwide reach with the acquisition of Navgi8, intended to improve ADNOC L&S’s position as a global leader in marine logistics pending regulatory approval.

The acquisition will expand its presence to 15 different places across five continents and add 32 tankers to its fleet.

#lowcarbonfuel  #supertanker  #shipping  #adnoc 

Marin Insight News Network, November 8, 2024