Adnoc L&S Expands Fleet with Acquisition of Eleven Vessels

Adnoc Logistics & Services (Adnoc L&S), the shipping and logistics subsidiary of state-owned oil group Adnoc, has acquired a batch of eleven vessels to expand its fleet. The deal combines secondary-market vessels with newbuilds, and is part of a continuous investment drive to renew and expand the fleet, under way since the early 2020s.

The acquisition comes as global gas markets are being reshaped, with doubts raised over Southeast Asia's gas ambitions for 2030. Adnoc L&S has not specified a delivery timeline for the eleven newly acquired vessels.

The company has also recently reinforced its fleet of liquefied natural gas (LNG) carriers through a newbuild order signed with a Chinese shipyard. This raises the company's total newbuild LNG carrier program to a higher level, extending a first tranche of LNG carriers already delivered.