ADNOC L&S/Wanhua Chemical Group joint venture, has placed an order for nine Very Large Ethane Carriers and 2-4 Very Large Ammonia Carriers from Jiangnan Shipyard in China.
As informed, this US$1.9 billion investment represents a major step forward in the ADNOC L&S transformational growth strategy and their commitment to expanding their fleet to carry new energy resources and accelerate their decarbonization objectives.
Ethane and ammonia are playing vital roles in decarbonizing both global industrial processes and the shipping industry.
As demand continues to rise, AW Shipping will own one of the largest fleets of VLECs in the world and will be well positioned to meet the evolving needs of customers and deliver long term value to their shareholders.
We are extremely happy to place new VLECs and VLACs shipbuilding orders to Chinese Jiangnan Shipyard together with our strategic partner ADNOC L&S through our AW Shipping joint venture, which is a firm recognition of high-end Chinese equipment manufacturing capability and creates a solid foundation to further deepen the strategic cooperation between Wanhua and ADNOC L&S.
..Kou Guangwu, President & CEO of Wanhua Chemical Group said.
In 2023, AW Shipping took delivery of five new dual-fuel very large gas carriers (VLGCs), which were constructed at the Jiangnan shipyard in Shanghai, China.
