The expansion of the giant oil tanker fleet plays an important role in supporting the Abu Dhabi Intercontinental Exchange for Murban crude futures, which is expected to boost trading in Murban crude and enable it to reach new customers and markets around the world, according to a press release.
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.
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 4 new ships under construction on demand, and modern vessels available 4 of which were recently acquired.
The total number of VLCCs recently acquired has increased to eight, and with the addition of these vessels, the total crude oil shipping capacity is 16 million barrels.
ADNOC Logistics and Services’ building of shipping capacity supports the ADNOC Group’s goal to increase production by 25 percent to 5 million barrels per day by 2030..
Captain Abdul Karim Al Mosabi, CEO of ADNOC Supplies and Services, said, “The acquisition of the supertanker enhances our competitive offerings, covering the entire value chain in the oil and gas sector.
At the end of February of this year, ADNOC Logistics and Services announced its acquisition of 6 giant crude oil tankers.