ADNOC Logistics and Services acquires two giant oil tankers

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ADNOC Logistics and Services, the shipping and marine logistics arm of the Abu Dhabi National Oil Company (ADNOC), has acquired two giant crude oil tankers, bringing the number of giant oil tankers acquired since the beginning of this year to 8.

The company said in a statement today that the expansion of the giant oil tanker fleet plays an important role in supporting the Abu Dhabi Intercontinental Exchange for Murban crude futures contracts, which are expected to boost trading in Murban crude and enable it to reach new customers and markets around the world. ADNOC Logistics and Services Company has helped to improve vessel capacity utilization in the crude oil sector.

The company is counting on that building shipping capacity will contribute to achieving the ADNOC Group’s goal of increasing production by 25% to 5 million barrels per day by 2030, according to the statement.

“The acquisition of the supertanker enhances our competitive offerings, which cover the entire value chain in the oil and gas sector,” said Captain Abdul Karim Al-Mosabi, CEO of ADNOC Supplies and Services.

Huge fleet

The acquisitions include a new supertanker equipped with dual-fuel technology expected to be delivered during the first quarter of 2023, and another tanker set to join the fleet in the second quarter of 2021, bringing the total number of VLCCs recently acquired to eight. With the addition of these ships, the total crude oil shipping capacity is 16 million barrels.

The company said that the selection of the new tankers aims to develop one of the most sustainable and modern crude oil shipping fleets in the world, as the added vessels are a mixture of new ships (4 new ships under construction on demand), and modern vessels available (4 of which were acquired recently). .

These vessels will join the company’s fleet of 140 owned and 100 chartered vessels, including deepwater cargo ships, offshore support service vessels and offshore service vessels.







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