SEATTLE (Oil Monster): Abu Dhabi’s ADNOC Logistics and Services placed an order for four additional liquefied natural gas carriers for about $900m or AED 3.3bn.
The four vessels will each have a capacity of 175,000 m³ and are scheduled for delivery in 2029. They will be built at Jiangnan Shipyard in Shanghai, China and are expected to be deployed on long-term charters.
The latest order brings ADNOC L&S’ total LNG newbuild program to 18 vessels. Including its 50% share of the AW Shipping newbuild program, ADNOC L&S has committed over $5bn to fleet expansion since 2022.
“As global demand for natural gas continues to rise, this latest order reflects our confidence in the strong fundamentals of the LNG shipping market,” said Captain Abdulkareem Al Masabi, CEO of ADNOC L&S.
The company has already taken delivery of six 175,000 m³ LNG carriers from Jiangnan Shipyard, valued at $1.2bn (AED 4.4bn), with five vessels deployed on contracts of up to 15 years with ADNOC Gas.
A further eight LNG carriers, with an investment volume of some $2.5bn (AED 9.2bn), are under construction at Samsung Heavy Industries and Hanwha Ocean. These vessels are scheduled for delivery from 2028, and are all contracted on 20-year time charters to ADNOC Gas.
The agreement for the four LNG carriers was signed during a ceremony witnessed by Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO in Shanghai.
During Dr. Sultan Al Jaber’s visit to Jiangnan Shipyard, in Shanghai, ADNOC L&S marked the delivery of the first of four very large ammonia carriers (VLACs). In 2024, AW Shipping, a joint venture between ADNOC L&S and Wanhua Chemical Group, placed a $1.9bn (AED 7bn) order for four VLACs and nine very large ethane carriers (VLECs), with two delivered in 2025. The visit concluded with a naming ceremony, where Rayan Al Shami, business excellence analyst at ADNOC L&S, served as the vessel’s ‘Godmother.’
Courtesy: www.shippingtelegraph.com
