ADNOC Logistics & Services (ADNOC L&S), UAE announced in a statement that it has signed contracts with a number of international companies to grow its owned and chartered fleet of integrated logistics and shipping services to meet growing global demand.
The combined value of the contract is worth of $4.4 billion.
The company, through its joint venture AW Shipping, awarded contracts worth US$1.9 billion to build nine Very Large Ethane Carriers (VLECs) and four Very Large Ammonia Carriers (VLACs) with Jiangnan Shipyard in China. “The investment aims to support the energy transition and open new markets for the company, while advancing its efforts to reduce carbon emissions in industrial operations”.
ADNOC L&S also signed contracts worth US$2.5 billion with Korea’s Samsung Heavy Industries and Hanwha Ocean to build up to 10 LNG carriers, further enhancing its ability to meet global demand for low-carbon energy.
