ADNOC L&S awards USD1.91B worth of contracts to China's Jiangnan Shipyard for supertankers
Date
7/23/2024 8:11:48 AM
(MENAFN) ADNOC Logistics & Services, the largest logistics company in the UAE, announced on Tuesday that its strategic joint venture with China’s Wanhua Chemical Group, AW Shipping, has awarded contracts worth a total of AED 7 billion (USD1.91 billion) to China’s Jiangnan Shipyard for the construction of supertankers. According to a statement released by ADNOC Logistics & Services to the Abu Dhabi Stock Exchange, these contracts involve the construction of nine giant ethane carriers at a cost of up to 5.1 billion dirhams and two giant ammonia carriers priced at up to 900 million dirhams, with an option to build an additional two ammonia carriers at the same price.
The statement detailed that the new tankers will be among the largest ethane and ammonia carriers in the world and will be equipped with energy-efficient dual-fuel engines. The giant ethane tankers are set to operate under 20-year charter contracts. With the addition of these nine new vessels, AW Shipping will join the ranks of companies with one of the largest Very Large Crude Carrier (VLCC) fleets globally, augmenting the more than 25 VLCCs currently in service with various shipping companies around the world.
The giant ethane tankers will each have a capacity of 99,000 cubic meters and will be equipped with engines that can run on ethane or conventional fuel. These tankers are scheduled for delivery between 2025 and 2027. The giant ammonia tankers, with a capacity of 93,000 cubic meters each, will feature engines capable of running on liquefied petroleum gas or conventional gas, with deliveries planned between 2026 and 2028. This expansion underscores ADNOC's commitment to enhancing its logistical capabilities and supporting its strategic partnership with Wanhua Chemical Group.
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