ADNOC Buys 11 Supertankers for $1.3 Billion to Expand Export Fleet
ADNOC Buys 11 Supertankers for $1.3 Billion to Expand Export Fleet What I Cover My focus spans the global energy landscape and the technologies reshaping it, specifically focusing on oil and gas, renewables, and tech-driven market… ADNOC has bought 11 very large crude and gas carriers for $1.3 billion as the national oil company of Abu Dhabi continues to expand its fleet of supertankers to boost crude and LNG exports.
ADNOC’s unit ADNOC Logistics & Services plc on Fridayannouncedit had acquired five modern Very Large Gas Carriers (VLGCs) and six Very Large Crude Carriers (VLCCs) for a combined investment of about $1.3 billion.
Nine of the vessels, six VLCCs and three VLGCs, were acquired on the secondary market.
They are scheduled for delivery this quarter and will enter service with ADNOC immediately following delivery.
The remaining two VLGCs are newbuild vessels acquired through a resale transaction from a Chinese shipyard, with delivery scheduled for the fourth quarter of 2026.
The fleet expansion will support ADNOC L&S’ gas and crude oil shipping capacity and support ADNOC Group’s integrated value chain and continued growth in production, trading and export volumes, the company said in a statement.
The latest acquisition follows ADNOC’s order for newbuild LNG carriers from last month.
ADNOC L&S currentlyownsover 340 vessels and operates 600 chartered ships.
The UAE has sought to adapt to the closure of the Strait of Hormuz by sneaking tankers in dark mode through the Strait and increasingly offering to sell many of its crude grades for loading offshore Fujairah and at Sohar in Oman, outside the Strait.
The United Arab Emirates has managedto boost its oil exportsto pre-crisis levels as early as June, as it has kept pushing crude through the Strait of Hormuz and outside it.
ADNOC is also boosting its LNG carrier fleet to grow its international gas business.
Last month, ADNOC Logistics and Services placed a$900-million orderfor four newbuild LNG carriers to expand its fleet as Abu Dhabi’s national oil company seeks to boost gas exports to capitalize on the global rise in LNG demand.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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