{"id":71669,"date":"2023-06-21T00:00:00","date_gmt":"2023-06-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/06\/21\/adnoc-ls-expands-shipping-fleet-with-delivery-of-new-vlcc\/"},"modified":"2023-06-21T00:00:00","modified_gmt":"2023-06-21T00:00:00","slug":"adnoc-ls-expands-shipping-fleet-with-delivery-of-new-vlcc","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/06\/21\/adnoc-ls-expands-shipping-fleet-with-delivery-of-new-vlcc\/","title":{"rendered":"Adnoc L&#038;S expands shipping fleet with delivery of new VLCC"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Adnoc L&S has received a <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.hanwha.com\/en\/products_and_services\/affiliates\/hanwha-ocean.html\" style=\"\">Hanwha<\/a><\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.hanwha.com\/en\/products_and_services\/affiliates\/hanwha-ocean.html\" style=\"\">Ocean<\/a><\/span><span style=\"font-weight:700\"> produced new-build very large crude carrier (VLCC)<\/span><span style=\"\">, dubbed Hafeet, according to a company <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/6\/1009.pdf\" style=\"\">disclosure (pdf)<\/a><\/span><span style=\"font-weight:400;\"> on the Abu Dhabi Exchange (ADX). Hafeet is the first of four VLCCs ordered by the company. The disclosure did not mention the cost of the VLCCs, though it revealed that Adnoc L&S has committed USD 2 bn since 2018 towards building more environmentally efficient vessels and cutting the carbon production of its fleet by 20%.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The details:<\/span><span style=\"\"> Hafeet is a 336 meter-long fuel-duel vessel that can also run on liquified natural gas, and has a deadweight capacity of 300k metric tons, according to the disclosure. The carriers are designed for long-haul voyages to ship crude to customers globally. It can carry some 2 mn barrels of crude per voyage, according to the disclosure. Hafeet was built by one of Korea\u2019s <\/span><span style=\"\">Big 3<\/span><span style=\"font-weight:400;\"> shipbuilders, Hanwha Ocean, at its Okpo Shipyard in Geoje Island in South Korea.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">More to follow: <\/span><span style=\"font-weight:400;\">The second newbuild VLCC will be delivered later this month, while the third will be delivered in 3Q 2023 and the fourth in 4Q. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What they said: <\/span><span style=\"font-weight:400;\">\u201cThe addition of Hafeet, the first of four newbuild VLCCs to our expanding ADNOC L&S fleet, will increase our energy transportation capacity in line with our ambitious growth strategy,\u201d CEO of Adnoc L&S Abdulkareem Al Masabi said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">It\u2019s a big year for Adnoc L&S: <\/span><span style=\"\">The company also added five new-build Very Large Gas Carriers (VLGC) to its fleet in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/bedb6720-a924-4762-9c4f-563c056cad25\" style=\"\">April<\/a><\/span><span style=\"\">, with even more <\/span><span style=\"\">VLGCs scheduled<\/span><span style=\"\"> for delivery in 2025 and 2026. The company wrapped its IPO in the beginning of June, raising <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/d8469523-508b-40a7-9993-5f8025fe5d0d\" style=\"\">USD 769 mn<\/a><\/span><span style=\"\"> from the sale of a 19% stake. The proceeds will be put towards Adnoc\u2019s ambitious <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/0c38eaa8-bd48-4786-bf44-3c3f17d5a95b\" style=\"\">USD 4-5 bn<\/a><\/span><span style=\"\"> medium term growth strategy, which includes investments towards expanding the scope of their services, decarbonization efforts, as well as scaling up their shipping, integrated logistics, and services platform operations.  <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The VLCC is one of four it\u2019s set to receive this year<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[778],"tags":[79,17,34,33],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-71669","post","type-post","status-publish","format-standard","hentry","category-maritime","tag-energy","tag-enterprise-logistics","tag-maritime","tag-shipping","wpautop","entry"],"acf":{"mongo_id":"23f8e105-61e8-460f-a135-1e0af4340979","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/6\/1023.jpg,https:\/\/www.adnoc.ae\/en\/news-and-media\/press-releases\/2023\/first-middle-east-lng-cargo-to-germany-successfully-delivered-by-adnoc","photo_position":"above","homepage_title":"","full_issue_title":"Adnoc L&S expands shipping fleet with delivery of new VLCC","related_issue":[71658],"teaser":"The VLCC is one of four it\u2019s set to receive this year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/6\/.b7b824d9-58b3-483d-b578-fcfc977390fa.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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