ADNOC L&S acquires 11 vessels

Ventura Logistics Services (ADNOC L&S), the shipping arm of Abu Dhabi National Oil Company (ADNOC), announced on August 7, 2026, the acquisition of 11 vessels for approximately $1.3 billion (AED 4.8 billion). The purchase includes five Very Large Gas Carriers (VLGCs) and six Very Large Crude Carriers (VLCCs). Nine vessels (six VLCCs and three VLGCs) were acquired on the secondary market and are scheduled for delivery in Q3 2026, entering service immediately. The remaining two VLGCs are newbuilds acquired via resale from a Chinese shipyard, with delivery in Q4 2026. This investment expands ADNOC L&S's fleet to 14 VLCCs and 12 VLGCs, supporting ADNOC's growing production, trading, and export volumes. The acquisition follows recent orders for LNG carriers and other vessels, reflecting ADNOC L&S's aggressive fleet expansion strategy. The company has committed over $5 billion across 32 vessels since 2022, including its 50% share of the AW Shipping joint venture with Wanhua Chemical Group. CEO Abdulkareem Al Masabi emphasized the disciplined execution of the growth strategy and the company's strong financial position. The deal comes amid regional tensions, including recent attacks on ADNOC VLCCs in the Strait of Hormuz, but ADNOC continues to invest in expanding its maritime capabilities.