ADNOC L&S Orders Two Additional LNG Carriers Worth $444 Million
Key Takeaways
- •ADNOC L&S ordered two 175,000-cubic-metre LNG carriers from Jiangnan Shipyard for a combined $444 million, with delivery scheduled for 2029.
- •The order expands ADNOC L&S's LNG carrier fleet to 24 vessels, comprising four legacy ships, six next-generation carriers delivered since Q4 2024, and 14 under construction.
- •The company has announced approximately $2.7 billion in vessel acquisitions and newbuilding commitments this year.
- •The new carriers are expected to be placed on long-term charters, although the charterers have not been specified.
- •The 2029 delivery window coincides with new LNG export capacity coming online globally, including projects in the US, Qatar, and the UAE's Ruwais LNG development.
UAE-based ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of Abu Dhabi's state oil company ADNOC, has ordered two additional LNG carriers at China's Jiangnan Shipyard for a combined $444 million.
The company exercised options for the 175,000 m3 vessels, which are due for delivery in 2029, it said in an announcement on Tuesday.
The latest order takes ADNOC L&S's LNG carrier fleet to 24 vessels. This includes four legacy ships, six next-generation carriers delivered since the fourth quarter of 2024, and 14 vessels currently under construction.
The company said it has now announced around $2.7 billion in vessel acquisitions and newbuilding commitments this year. The two new carriers are expected to be placed on long-term charters once delivered, although the company has not specified which charterers will take the vessels.
ADNOC L&S had previously taken delivery of an LNG carrier from Jiangnan Shipyard in April.
Jiangnan Shipyard, a subsidiary of China State Shipbuilding Corporation (CSSC) based in Shanghai, is one of China's major shipbuilders and has become a significant builder of large LNG carriers in recent years, alongside South Korean yards that have traditionally dominated the segment. LNG carriers of the 174,000–175,000 m3 class are the standard size for modern global LNG trade, transporting the chilled fuel at approximately -163 degrees Celsius.
The 2029 delivery window places the new carriers in service as a wave of new LNG export capacity is scheduled to come online globally toward the end of the decade, including projects in the United States and Qatar as well as the UAE's own Ruwais LNG development in Abu Dhabi, which ADNOC is developing with production targeted around the turn of the decade.
The order forms part of a broader fleet expansion by ADNOC L&S, which has been growing across gas, dry cargo, and tanker segments as the company pursues what it has described as one of the industry's largest fleet renewal and growth programs. ADNOC L&S is listed on the Abu Dhabi Securities Exchange (ADX).
Source: Ship & Bunker
