In late July 2024, ADNOC Logistics and Services (ADNOC L&S) announced the award of approximately $1.9 billion in contracts to Jiangnan Shipyard for the construction of nine Very Large Ethane Carriers (VLECs) and two Very Large Ammonia Carriers (VLACs).
As informed, these new vessels will be among the largest of their kind and will feature energy-efficient dual fuel engines. The VLECs have a carrying capacity of 99,000 cubic meters and will be delivered between 2025 and 2027, while the VLACs, with a capacity of 93,000 cubic meters, are scheduled for delivery from 2026 to 2028.
Currently, there are more than 25 VLECs in operation with different shipping companies around the world. Upon receiving the nine new vessels, AW Shipping (joint venture with Wanhua Chemical Group) will own one of the world’s largest fleets of VLECs.
This initiative supports ADNOC L&S’s commitment to expanding its fleet and facilitating the transportation of lower-carbon energy sources. The VLECs will operate under 20-year charters, generating an estimated $4 billion in revenue.
To remind, in early jULY, ADNOC Logistics and Services plc, announced that it has awarded South Korean shipyards Samsung Heavy Industries and Hanwha Ocean up to $2.5 billion shipbuilding contracts for the construction of new Liquified Natural Gas (LNG) Carriers.
