ADNOC Logistics & Services (ADNOC L&S) announced on August 7, 2026, the acquisition of 11 new vessels for a total investment of approximately $1.3 billion. This fleet expansion includes five very large gas carriers (VLGCs) and six very large crude carriers (VLCCs), significantly boosting the company's gas and crude oil shipping capacity. This move is aimed at supporting the ADNOC Group's integrated value chain, its ongoing growth in production, and its trading and export volumes.
Nine of these vessels, specifically six VLCCs and three VLGCs, were purchased on the secondary market and are slated for delivery in the third quarter of 2026. These vessels are expected to immediately enter service with ADNOC upon delivery. The remaining two VLGCs are newbuild vessels, acquired through a resale transaction from a Chinese shipyard, with their delivery anticipated in the fourth quarter of 2026.
This $1.3 billion investment follows a $900 million order for four new liquefied natural gas (LNG) vessels placed last month, bringing ADNOC L&S's total LNG newbuild program to 18 vessels. This strategic expansion reflects ADNOC L&S's commitment to building world-class maritime logistics capabilities, as stated by Captain Abdulkareem Al Masabi, CEO of ADNOC L&S. He noted that the additions will expand capacity to support ADNOC's growing exports, serve customers in key markets, and capture opportunities in international energy trade.
The company upgraded its full-year 2026 financial guidance in June, projecting its net profit to surge more than 60%, significantly above previous expectations of mid-to-high teens growth, due to strong shipping performance and improvements in offshore logistics. This latest transaction is expected to provide near-term operational and earnings potential, while also enhancing the scale, flexibility, and resilience of the company’s shipping platform. The fleet expansion is also crucial for supporting ADNOC's broader LNG growth strategy, which targets 47 million tonnes per annum of combined marketable LNG by 2035.
The acquisition has nearly doubled ADNOC's Very Large Crude Carrier fleet from eight to 14 vessels. The expansion comes as the UAE, after leaving OPEC, has increased its oil exports through the Strait of Hormuz. The company has been navigating geopolitical tensions by using its own vessels, often with military escort, to move crude and refined products out of the Gulf, with some crude also routed through a cross-country pipeline that bypasses Hormuz.
