ADNOC Logistics & Services (ADNOC L&S) has acquired 11 gas and crude carriers for approximately USD 1.3 billion to expand its shipping capacity and support ADNOC Group’s exports, ADNOC L&S said on Friday.
The acquisition comprises five modern VLGCs and six VLCCs. Nine of the vessels – six VLCCs and three VLGCs – were purchased on the secondary market for delivery in Q3 2026, while two newbuild VLGCs are resales from an unnamed Chinese shipyard and are scheduled for delivery in Q4 2026.
The vessels will bring the company’s VLCC fleet to 14 and its VLGC fleet to 12. The vessels are expected to enter service immediately after delivery, bringing near-term operational and earnings potential.
“This USD 1.3-billion investment reflects the disciplined execution of our growth strategy and our commitment to building world-class maritime logistics capabilities for the energy sector,” said Captain Abdulkareem Al Masabi, CEO of ADNOC L&S.
The acquisitions form part of ADNOC’s broader effort to strengthen control over its supply chain and maintain crude deliveries amid interruptions to maritime trade due to disrupted transit through the Strait of Hormuz. As some producers in the Middle East have faced difficulties placing volumes on the market, the UAE has continued selling crude to refiners through direct sales and spot tenders.
Abu Dhabi-listed ADNOC L&S provides maritime logistics across the energy value chain. Its shipping activities include the transportation of crude oil, LPG, LNG, refined products and dry bulk cargoes.