Transaction strengthens company’s capacity to meet energy demand across global markets and supports ADNOC Group’s production, trading and export growth strategy
Three VLGCs and six VLCCs scheduled for delivery in Q3 2026, with two more VLGCs to be delivered in Q4 2026
Acquisitions bring VLCC fleet to 14 and VLGC fleet to 12, providing support to ADNOC Group immediately upon delivery
Abu Dhabi, UAE – August 7, 2026: ADNOC Logistics & Services plc (ADNOC L&S, ADX symbol ADNOCLS / ISIN AEE01268A239) today announced the acquisition of five modern Very Large Gas Carriers (VLGCs) and six Very Large Crude Carriers (VLCCs) for a combined investment of approximately USD 1.3 billion (AED 4.8 billion). The investment will rapidly expand 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.
Nine of the vessels, six VLCCs and three VLGCs, were acquired on the secondary market and are scheduled for delivery in Q3 2026. They will enter service with ADNOC immediately following delivery. The remaining two VLGCs are newbuild vessels acquired through a resale transaction from a leading Chinese shipyard, with delivery scheduled for Q4 2026.
Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said: "This USD 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.”
The transactions provide near-term operational and earnings potential while increasing the scale, flexibility and resilience of the company’s shipping platform.
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About ADNOC Logistics & Services
ADNOC Logistics & Services plc, listed on the Abu Dhabi Securities Exchange (ADX symbol ADNOCLS / ISIN AEE01268A239) is a global leader in integrated maritime logistics for the energy sector based in Abu Dhabi. Through Integrated Logistics, Shipping and Services ADNOC L&S delivers energy products and solutions to more than 100 customers in over 50 countries. Key subsidiaries include Zakher Marine International Holdings (100% ownership), an Abu Dhabi-based owner and operator of self-propelled offshore support vessels; and Navig8 (80% ownership), a global ship owner and commercial pools operator also offering bunkering and ship management solutions.
To find out more, visit: www.adnocls.ae
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For investors enquiries, please contact: IR@adnocls.ae
