UAE: ADNOC Logistics and Services acquires 6 mega-crude oil tankers

ADNOC Supplies and Services announced the acquisition of 6 giant crude oil tankers, through the purchase of two giant crude oil tankers that join the company’s fleet immediately, and a contract to build 3 new tankers to be delivered between 2022 and 2023, while the company acquired an additional vessel that will join Its fleet is coming soon.

With the addition of these tankers, which are the first of their kind in the company’s fleet, the total shipping capacity of the company increases by 12 million barrels of crude oil.

ADNOC Logistics and Services is currently the largest integrated shipping and marine logistics company and owns and operates the largest marine freight fleet in the UAE. The company is also implementing an ambitious program to modernize its fleet and develop its capabilities in the field of shipping and services to enable it to provide the best services to its international customers and to support ADNOC Group’s plans to develop its capabilities in the field of trade and commerce.

The company’s CEO, Captain Abdul Karim Al-Musabi, said that the acquisition of the six supertankers constitutes an important step on the way to modernizing the company’s fleet, developing its capabilities and enabling it to transport crude oil to all parts of the world.

This strategic step also contributes to providing new services to the company’s customers, enabling ADNOC and its commercial companies to access new global energy markets, and support its continuous efforts to achieve additional value and provide new sources of revenue.

Each of the six tankers has a tonnage of 300,000 DWT, a length of 330 meters, and a carrying capacity of about two million barrels of crude oil, which adds an additional capacity for ADNOC Supply and Services fleet of 12 million barrels.

The establishment of the giant crude tanker fleet comes as part of ADNOC’s continuous efforts to implement its plans to increase its oil production capacity, as the company currently produces more than 4 million barrels per day, and plans to increase it to 5 million barrels per day by 2030.

ADNOC Logistics and Services is working to modernize its fleet and develop its capabilities by adding 16 tankers and vessels operating in deep waters during the year 2020. The company recently confirmed its contract to build 5 giant gas tankers, in addition to a giant dual-fuel oil tanker for AW Navigation, the joint venture between ADNOC Logistics and Services and the Wanhua Chemical Industries Group.

This is in addition to the purchase of four bulk carriers during 2020, including three of the giant “ultramax” type and one of the small “handy size” types.