ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC), has acquired two additional 300,000 dwt very large crude carriers (VLCC), bringing the total number of VLCCs added to its fleet in 2021 to eight.
The new acquisitions include another dual-fuel newbuild at South Korea’s Daewoo, expected to be delivered in Q1 2023, and an existing scrubber-fitted vessel set to join the fleet in Q2 2021.
Captain Abdulkareem Al Masabi, CEO, ADNOC L&S, said: “The acquisition of these VLCCs further consolidates our highly competitive offering, which covers the full spectrum of the oil and gas value chain. Following our strategic vessel acquisitions in 2020-2021, and combined with our integrated logistics and marine solutions, we are confident that our customers will gain a significant edge in terms of time and cost savings for their upstream and downstream operations, including ADNOC Group entities.”
The move boosts ADNOC L&S crude oil cargo capacity at 16m barrels this year and supports ADNOC’s commitment to increase its crude oil production capacity by 25% by 2030.
In 2020, ADNOC L&S grew its fleet with 16 deep-sea vessel acquisitions. The VLCC adds to ADNOC L&S’ existing fleet of 140 owned vessels and 100 chartered vessels.