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ADNOC L&S takes delivery of second new crude carrier

Abu Dhabi state oil company subsidiary ADNOC L&S has announced delivery of a second new crude carrier in two months, as part of a $2 billion growth strategy.

The newbuild very large crude carrier (VLCC) is a four dual-fuel engine ship, meaning it can also run on liquefied natural gas (LNG).

The company said in a bourse filing that it has committed $2 billion to building more environmentally efficient vessels and has reduced the carbon intensity of its owned fleet by more than 20% since 2018.

The first VLCC was delivered last month while the third and fourth are scheduled for delivery in the third and fourth quarters respectively, a bourse filing said.

The 336m vessels, which can carry up to 2 million barrels of crude per voyage, were built in South Korea by Hanwha Ocean, formerly Daewoo Shipbuilding and Marine Engineering, and are anticipated to trade on the spot market.
Source: Reuters (Writing by Imogen Lillywhite; editing by Brinda Darasha)

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