ADNOC Logistics & Services has signed contracts worth $4.4 billion to expands its fleet of supertankers, according to company CEO Captain Abdulkareem Al Masabi.
The massive deals have been signed with a number of international companies to grow the owned and chartered fleet of integrated logistics and shipping services to meet growing global demand.
On the sidelines of the ADIPEC 2024, Al Masabi said: “We also expanded the size of our fleet through shipbuilding contracts that include 10 new LNG carriers, nine very large ethane carriers, and four very large ammonia carriers, which represents a strategic step in reducing emissions globally and meeting the growing demand for energy.”
ADNOC L&S announces suppertanker deals
The company, through its joint venture AW Shipping, awarded contracts worth $1.9bn to build nine very large ethane carriers (VLECs) and four very large ammonia carriers (VLACs) with Jiangnan Shipyard in China.
Al Masabi said: “The investment aims to support the energy transition and open new markets for the company, while advancing its efforts to reduce carbon emissions in industrial operations”.
He said that ADNOC L&S also signed contracts worth $2.5bn with Korea’s Samsung Heavy Industries and Hanwha Ocean to build up to 10 LNG carriers, further enhancing its ability to meet global demand for low-carbon energy.
He pointed out that the company has adopted an integrated strategy to bring in global expertise, which enhances the skills of a workforce of more than 10,000 individuals and more than 3,200 seafarers.
He said: “The company is committed to supporting the local economy through the In-Country Value Enhancement Programme, with its contribution rate reaching 86percent in 2023″.
He explained that the company continues to adopt sustainable environmental practices, including protecting the marine environment in which it operates and preserving the UAE’s maritime heritage.
“The company’s sustainability efforts are in line with ADNOC Group’s Net Zero by 2045 target, the UAE’s Net Zero by 2050 strategy, and the International Maritime Organisation’s 2050 net zero target,” he added.
Al Masabi stated that ADNOC L&S is a global leader in the maritime energy logistics sector with a world-class asset base. “The company provides safe, reliable and cost-effective maritime and logistics solutions to over 100 global customers, and manages the shipment of energy products to over 50 countries, reinforcing its position as a key partner in the global energy supply chain,” he noted.
He said that ADNOC L&S has the largest diversified fleet in the region, with over 800 owned, operated and chartered vessels, supported by Integrated Logistics facilities that provide comprehensive and Integrated Logistics, Shipping and Marine Services. “This enables the company to support across the energy supply chain for ADNOC Group and other global partners,” he added.
Follow us on
