ADNOC Logistics & Services (ADNOC L&S) has announced the acquisition of 11 vessels for a combined investment of approximately USD 1.3 billion (AED 4.8 billion), further expanding its global shipping fleet to support growing energy production, trading, and export activities.
The acquisition includes five Very Large Gas Carriers (VLGCs) and six Very Large Crude Carriers (VLCCs). Nine vessels, comprising six VLCCs and three VLGCs, were acquired on the secondary market and are scheduled for delivery during the third quarter of 2026. The remaining two VLGCs are newbuild vessels acquired through a resale transaction from a leading Chinese shipyard and are expected to be delivered in the fourth quarter of 2026.
Following the acquisitions, ADNOC L&S’ VLCC fleet will increase to 14 vessels, while its VLGC fleet will expand to 12 vessels. The company said the additional capacity will strengthen its ability to support ADNOC Group’s integrated value chain, meet growing global energy demand, and provide immediate operational support upon delivery.
Commenting on the announcement, Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said the investment reflects the company’s disciplined growth strategy and commitment to building world-class maritime logistics capabilities. He added that the expanded fleet will enable ADNOC L&S to support increasing export volumes, serve customers across key global markets, and capture new opportunities in international energy trade.
The company said the acquisitions are expected to enhance the scale, flexibility, and resilience of its shipping platform while contributing to near-term operational and earnings growth.
Source: ADNOC Logistics & Services
Disclaimer: This article is for informational purposes only and should not be construed as investment, financial, or legal advice.
