ADNOC L&S expands fleet with $1.3 billion acquisition of 11 vessels

Frontline

07/08/2026 07:33

Aug 7 (Reuters) - ADNOC Logistics & Services (ADNOC L&S) ADNOCLS.AD, a unit of Abu Dhabi's state oil giant ADNOC, said on Friday that it has acquired five Very Large Gas Carriers (VLGCs) and six Very Large Crude Carriers (VLCCs) for about $1.3 billion (AED 4.8 billion), expanding its gas and crude shipping capacity.

The acquisition will increase ADNOC L&S' VLCC fleet to 14 vessels and VLGC fleet to 12 vessels
Nine vessels, including  six VLCCs and three VLGCs, were acquired on the secondary market and are scheduled for delivery in Q3 2026, with immediate entry into service upon delivery
The remaining two VLGCs are newbuild vessels acquired through a resale transaction from a Chinese shipyard and are due for delivery in Q4 2026
The maritime services provider said the transactions will provide near-term operational and earnings benefits while enhancing the scale, flexibility and resilience of its shipping platform
The acquisitions follow ADNOC's broader push to strengthen control over its supply chain, allowing it to move crude to customers even as geopolitical tensions disrupt two of the world's busiest maritime routes
Reuters reported last month, citing sources, that ADNOC L&S had recently bought five VLCCs from Frontline Plc HF6.F 
ADNOC L&S operates more than 900 vessels, according to a fact sheet posted on its website
Last month, ADNOC L&S ordered four next-generation LNG carriers worth about $900 million, to be built at Jiangnan Shipyard in Shanghai

 (Reporting by Amna Mariyam in Bengaluru
Editing by Tomasz Janowski)
 ((amna.mariyam@thomsonreuters.com; +91 8448625620))