ADNOC L&S Doubles Down on Fleet Expansion with AED 4.8B Tanker Acquisition

ADNOC Logistics & Services (ADNOC L&S) has expanded its global fleet by acquiring 11 tankers, including five modern liquefied natural gas (LNG) carriers and six very large crude carriers (VLCCs), for a total investment of AED 4.8 billion (USD 1.3 billion).

The company acquired nine carriers from previous owners, with delivery scheduled in Q3 2026, consisting of six VLCCs and three LNG carriers. It also purchased two new LNG carriers under construction through a resale agreement from a Chinese shipbuilder, with delivery expected in Q4 2026.

This acquisition will expand ADNOC L&S' fleet to 14 VLCCs and 12 LNG carriers, providing immediate support for its operations. The company stated that these transactions will deliver operational value and near-term financial returns, further enhancing its shipping platform, operational flexibility, and readiness to navigate changing market conditions.

The acquisitions are part of ADNOC L&S' plan to expand its global fleet and provide support for its operations.