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ADNOC Logistics & Services said in a statement that the $1.3 billion investment covers five modern very large gas carriers and six very large crude carriers. Nine of the vessels, comprising the six VLCCs and three VLGCs, were secured on the secondary market for delivery during the third quarter of 2026, when they will enter service with ADNOC immediately. The remaining two VLGCs represent newbuilds acquired through a resale from a leading Chinese shipyard with delivery slated for the fourth quarter of 2026. The transactions will provide near-term operational and earnings contributions while enhancing the overall scale of the shipping platform.
The company’s announcement noted that the fleet expansion will support ADNOC Group’s integrated value chain amid continued growth in production, trading and export volumes. ADNOC’s responsible growth strategy sets a target of increasing lower carbon-intensive hydrocarbons production capacity to 5 million barrels per day by 2027. A Reuters report in May 2026 indicated ADNOC Drilling stands prepared to expand UAE oil capacity even further beyond that level if requested by authorities.
Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said in the statement, “This $1.3 billion investment reflects the disciplined execution of our growth strategy and our commitment to building world-class maritime logistics capabilities for the energy sector. By adding 11 vessels, we are expanding our capacity to support ADNOC’s growing exports, serve customers in key markets and capture opportunities in international energy trade. Our strong financial position and cash generation enable us to invest in growth and deliver sustainable shareholder value.” The CEO’s comments underscored the alignment with broader corporate objectives.
According to a company fact sheet referenced in recent Reuters coverage, ADNOC L&S operated more than 900 vessels prior to this deal, including eight VLCCs and seven VLGCs. The latest acquisition will nearly double the company’s holdings in these vessel classes and increase its ability to handle larger cargo volumes across global routes. The move builds on ADNOC L&S’s 2025 purchase of an 80 percent stake in Navig8, which added a 32-vessel fleet and expanded the company’s international presence to 19 cities.
ADNOC L&S maintains the largest and most diversified fleet in the Middle East, according to its corporate disclosures, with capabilities spanning crude oil, refined products, liquefied petroleum gas and liquefied natural gas transport. The latest vessels will add significant cargo capacity as ADNOC pursues higher export levels consistent with its 5 million barrels per day goal by 2027. Industry data from prior company reports show ADNOC L&S has consistently invested in dual-fuel and environmentally efficient tonnage to meet both demand and sustainability requirements.
The statement highlighted that the acquisitions increase the flexibility and resilience of ADNOC L&S’s shipping platform at a time of evolving global energy trade patterns. Earlier expansions, including multiple VLCC deliveries in 2023 and LNG carrier orders scheduled through 2026, have followed a similar pattern of strategic capacity building. This latest investment aligns with those prior steps while positioning the company for sustained participation in international markets.
