Adnoc Fleet Keeps Gulf Cargoes Moving Arabian Post

The activity follows other Gulf cargo movements involving crude grades such as Das and Upper Zakum, which are traditionally loaded inside the Gulf. Some cargoes have been moved through ship-to-ship transfers or alternative loading arrangements outside the waterway, including areas off Fujairah and Sohar. These arrangements allow ADNOC to meet contractual obligations while reducing the need for buyers' vessels to enter deeper into the Gulf.

The strategy reflects the growing operational importance of ADNOC's shipping arm. ADNOC Logistics & Services operates and charters more than 600 vessels and has expanded its gas-carrier fleet to support Abu Dhabi's plans for higher LNG and energy-product exports. The company reported first-quarter EBITDA of $368 million and net profit of $222 million, with stronger shipping rates helping offset disruption linked to Hormuz.

Hormuz remains a narrow but decisive passage for global energy markets. The waterway connects Gulf producers with customers in Asia, Europe and beyond, handling roughly a fifth of global oil and petroleum-product consumption and about a fifth of LNG trade. Qatar and the UAE remain especially exposed on the gas side, while Iraq, Kuwait and Bahrain have limited practical alternatives for seaborne exports.

The UAE has one structural advantage over many neighbours: its crude export route to Fujairah on the Gulf of Oman, outside the Strait of Hormuz. That route gives Abu Dhabi a partial bypass for Murban crude, though it does not fully solve the challenge for offshore grades, LNG and other products loaded inside the Gulf. A newer pipeline expansion project intended to increase export capacity outside Hormuz is under way, but it is not yet available to absorb the full pressure of disrupted maritime flows.

ADNOC's latest shipping patterns show how state energy companies are adapting to an environment in which conventional tanker movements can expose vessels, cargoes and crews to military or political risk. Automatic identification system gaps, indirect routing and off-Gulf transfers are becoming part of the operational playbook, though they also raise transparency concerns for insurers, traders and regulators attempting to assess supply flows.

The market impact has been uneven. Oil prices have moved sharply on signs of either disruption or reopening, while physical traders have had to account for longer voyages, higher war-risk premiums and uncertainty over whether cargoes will load or discharge on schedule. LNG buyers in South Asia and East Asia have been watching Gulf vessel departures closely because Qatar and Abu Dhabi remain critical suppliers to power utilities and industrial users.