ADNOC L&S spends $1.3 billion on 11 vessels to expand global energy shipments

Nine vessels will arrive in Q3, followed by two new gas carriers in Q4 2026

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Nivetha Dayanand, Assistant Business Editor
ADNOC L&S spends $1.3 billion on 11 vessels to expand global energy shipments
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Dubai: ADNOC Logistics & Services is investing about $1.3 billion, equivalent to Dh4.8 billion, to acquire 11 vessels and expand its capacity to transport crude oil and gas across global markets.

The acquisition includes five modern Very Large Gas Carriers and six Very Large Crude Carriers, strengthening the company’s ability to support ADNOC Group’s production, trading and export growth.

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Nine vessels are scheduled to join the fleet during the third quarter of 2026, while the remaining two are due for delivery before the end of the year.

Nine vessels to enter service immediately

Six crude carriers and three gas carriers were acquired from the secondary market and are scheduled for delivery in the third quarter.

The vessels will begin operating for ADNOC immediately after delivery, providing additional shipping capacity during the current financial year.

Two more gas carriers were acquired as newbuild vessels through a resale transaction with a leading Chinese shipyard. Their delivery is scheduled for the fourth quarter of 2026. The acquisitions will increase ADNOC L&S’ fleet of Very Large Crude Carriers to 14 vessels and its fleet of Very Large Gas Carriers to 12.

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 additional vessels will give ADNOC L&S greater scale and flexibility across its shipping operations while providing near-term operational and earnings potential.

The investment also expands the maritime capacity available to ADNOC Group as it increases production, trading activity and export volumes across its integrated energy value chain.

Nivetha Dayanand
Nivetha DayanandAssistant Business Editor
Nivetha Dayanand is Assistant Business Editor at Gulf News, covering aviation, financial markets and commodities. A business and financial journalist with a strong interest in multimedia storytelling, she regularly takes complex financial and economic subjects beyond the written word, producing explainer videos that make them easier for a wider audience to understand. Nivetha has interviewed senior policymakers, business leaders and global financial figures both on and off camera. Her past guests include UAE Minister of Economy and Tourism Abdulla bin Touq Al Marri, Khaled bin Alwaleed Al Saud, a member of the House of Saud and the founder and CEO of KBW Ventures, Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund and Indian ministers Hardeep Singh Puri and N. Chandrababu Naidu. She has also hosted and moderated panels, conferences and awards shows, bringing her newsroom experience to live conversations on business, finance and the economy. An Erasmus Mundus journalism alum, Nivetha is drawn to stories that affect people directly and to reporting that gives a platform to voices that might otherwise go unheard. She was among the first journalists to speak to Petrofac employees in the UAE about unpaid salaries, broke the news of the planned demolition of Dubai’s well-known “Toyota Building”, and helped set the record straight on widely circulated claims that a giant replica of the Moon was coming to Dubai. More recently, her exclusive interview with EDGE Group CEO Hamad Al Marar revealed how the UAE-based defence group deployed its systems along the country’s shore border and established a geofence around the UAE within 48 hours of the February 28 escalation. Prior to joining Gulf News, Nivetha worked at ITP Media, where she helped launch Finance Middle East, a new publication covering the region’s financial sector. Her role spanned reporting and editing, video production, interviews and events. Across print, digital, and video, she focuses on finding the people behind business stories and explaining why those stories matter to the audience reading or watching them.

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