Dubai, UAE — ADNOC Logistics & Services said on Friday it will acquire 11 oil and gas carriers for about $1.3 billion, expanding its shipping fleet to support higher export volumes and growth across ADNOC’s energy business.
The acquisition comprises five Very Large Gas Carriers (VLGCs) and six Very Large Crude Carriers (VLCCs), with a combined investment of about AED4.8 billion ($1.3 billion).
Nine vessels — six VLCCs and three VLGCs — were acquired on the secondary market and are scheduled for delivery in the third quarter of 2026, after which they will immediately enter service.
The remaining two VLGCs are newbuild vessels acquired through a resale transaction from a Chinese shipyard and are due for delivery in the fourth quarter.
Chief Executive Abdulkareem Al Masabi said the investment reflected the company’s strategy of building maritime logistics capabilities while supporting ADNOC’s growing production, trading and export activities.
The company said the acquisition would provide near-term operational and earnings potential while increasing the scale, flexibility and resilience of its shipping platform.
