ADNOC Logistics and Services has signed an agreement with China’s Jiangnan Shipyard to build four new LNG carriers, each with a capacity of 175,000 cubic metres, for a combined value of AED 3.3 billion, or approximately USD 900 million. Delivery is scheduled for 2029.
The signing took place in Shanghai and was witnessed by Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Group CEO, alongside UAE Ambassador to China Hussein Al Hammadi, Undersecretary for Industry and Advanced Technology Hassan Jasem Al Noaimi, and senior officials from China State Shipbuilding Corporation and Wanhua Chemical Group.
“As global demand for natural gas continues to grow, this investment reflects our confidence in the strong fundamentals of the LNG shipping market,” said Captain Abdulkareem Al Masabi, CEO of ADNOC Logistics and Services. He added that the company was building a next-generation fleet connecting major supply sources with fast-growing demand centres, supported by strong earnings growth and diversified operations.
The four new vessels bring the company’s total LNG newbuild order book to 18 carriers, a figure that also includes eight tankers under construction at South Korea’s Samsung Heavy Industries and Hanwha Ocean, representing a further AED 9.2 billion (USD 2.5 billion) in investment. Those ships are due for delivery from 2028 and are all contracted on charters of up to 20 years with ADNOC Gas.
ADNOC Logistics and Services had previously taken delivery of six LNG carriers from Jiangnan, also at 175,000 cubic metres each, at a total cost of AED 4.4 billion (USD 1.2 billion). Five of those vessels are already operating under long-term contracts with ADNOC Gas of up to 15 years, with revenue flowing from May 2026. The four new carriers will similarly be deployed under long-term lease arrangements.
Jiangnan’s CEO Xiao Wenlin noted the depth of the relationship, pointing to prior orders that span LNG carriers, giant ethane tankers, large ammonia tankers, and very large LPG carriers. During Al Jaber’s visit to the shipyard, ADNOC Logistics and Services also took delivery of the first of four very large ammonia carriers, a vessel with a capacity of 93,000 cubic metres that ranks among the largest ammonia tankers in service globally.
Including its 50 per cent stake in the AW Shipping joint venture with Wanhua Chemical, the company’s total fleet expansion investment since 2022 has exceeded AED 18.4 billion (USD 5 billion).
