Nine vessels to join ADNOC L&S fleet in Q3, with two gas carriers arriving in Q4 2026.
Dubai: ADNOC Logistics & Services is investing approximately $1.3 billion (Dh4.8 billion) to acquire 11 vessels as part of its fleet expansion strategy, aimed at increasing its capacity to transport crude oil and gas to global markets.
The acquisition includes five modern Very Large Gas Carriers (VLGCs) and six Very Large Crude Carriers (VLCCs), enhancing the company’s ability to support ADNOC Group’s expanding production, trading and export activities.
Nine vessels are set to join the fleet during the third quarter of 2026, with the remaining two expected to be delivered before the end of the year.
Nine vessels to enter service immediately
The initial phase includes the acquisition of six crude carriers and three gas carriers from the secondary market, with deliveries scheduled for the third quarter.
The vessels will begin operations for ADNOC immediately after delivery, adding further shipping capacity during the current financial year.
The remaining two gas carriers were acquired as newbuild vessels through a resale agreement with a leading Chinese shipyard and are scheduled for delivery in the fourth quarter of 2026. Following the acquisitions, ADNOC L&S’s fleet of Very Large Crude Carriers (VLCCs) will increase to 14 vessels, while its Very Large Gas Carrier (VLGC) fleet will grow to 12 vessels.
“This $1.3 billion investment reflects the disciplined execution of our growth strategy and our commitment to building world-class maritime logistics capabilities for the energy sector. By adding 11 vessels, we are expanding our capacity to support ADNOC’s growing exports, serve customers in key markets and capture opportunities in international energy trade. Our strong financial position and cash generation enable us to invest in growth and deliver sustainable shareholder value.”
Captain Abdulkareem Al Masabi, CEO of ADNOC L&S
The expanded fleet will provide ADNOC L&S with greater scale and flexibility across its shipping operations, while creating near-term opportunities for stronger operational performance and earnings growth.
The investment further strengthens the maritime capacity available to ADNOC Group as it scales up production, trading activities and export volumes across its integrated energy value chain.
