ADNOC L&S is expanding its shipping fleet in line with its smart growth strategy to meet rising global energy demand
ADNOC L&S has committed approximately $2 billion to building market-leading environmentally efficient vessels, including a new VLCC fleet with dual-fuel capability
Abu Dhabi, UAE - August 23, 2023: ADNOC Logistics and Services plc (ADNOC L&S) (ADX symbol ADNOCLS / ISIN AEE01268A239), a global energy maritime logistics leader, announced taking delivery of a third newbuild very large crude carrier (VLCC). The vessel “Arzanah” is the third of four LNG dual-fuel VLCCs delivered this year.
Two VLCCs were delivered in June and July, while the fourth is set to join the ADNOC L&S fleet in the fourth quarter. These vessels are anticipated to trade on the spot market and are built by Hanwha Ocean, formerly known as Daewoo Shipbuilding and Marine Engineering, at its Okpo Shipyard in Geoje Island, South Korea.
The newbuild VLCC fleet is categorized as one of the most environmentally efficient VLCCs in operation today, thanks to its LNG dual-fuel engine that is designed to run on the lower emitting transitional fuel Liquified Natural Gas (LNG). ADNOC L&S has committed approximately $2 billion to building environmentally efficient vessels and has successfully reduced the carbon intensity of its owned fleet by more than 20% between 2018 and 2022.
VLCC Arzanah, designed for long haul voyages to ship crude to customers worldwide, has a length of 336 meters and a deadweight of 300,000 metric tons, carrying approximately 2 million barrels of crude per voyage.