Photo Credit : WAM
ADNOC Logistics & Services plc (ADNOC L&S) has announced the acquisition of 11 vessels in a deal valued at approximately $1.3 billion (AED4.8 billion), accelerating the expansion of its gas and crude oil shipping fleet.
The transaction includes five modern Very Large Gas Carriers (VLGCs) and six Very Large Crude Carriers (VLCCs), significantly strengthening the company’s maritime transportation capacity.
The investment is expected to support ADNOC Group’s integrated energy value chain while meeting growing requirements linked to higher production, trading activity and export volumes.
Nine vessels, comprising six VLCCs and three VLGCs, were acquired from the secondary market and are scheduled for delivery during the third quarter of 2026. ADNOC L&S said the vessels will enter service immediately following delivery.
The remaining two VLGCs are newbuild vessels secured through a resale transaction with a leading Chinese shipyard. Their delivery is scheduled for the fourth quarter of 2026.
Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said the $1.3 billion investment reflects the company’s disciplined implementation of its growth strategy and its commitment to developing world-class maritime logistics capabilities for the energy sector.
He said the addition of 11 vessels will increase the company’s ability to support ADNOC’s expanding exports, serve customers across key global markets and capture further opportunities in international energy trade.
Al Masabi added that ADNOC L&S’ strong financial position and cash generation provide the company with the capacity to continue investing in growth while delivering sustainable value for shareholders.
The acquisitions are expected to provide near-term operational and earnings opportunities while enhancing the scale, flexibility and resilience of ADNOC L&S’ global shipping platform.
