Today's Edition
SHANGHAI (WAM)
ADNOC Logistics and Services plc (ADNOC L&S) announced today that it has delivered 'Al Shelila,' the first of six newly built Liquified Natural Gas (LNG) carriers from Jiangnan Shipyard in China.
The vessel has been delivered two months ahead of schedule, with the remaining five expected to be delivered in 2025 and 2026. Immediately after delivery, "Al Shelila" will go on hire with a top-tier, global energy trader.
Al Shelila's naming and delivery ceremony was attended by Muhannad Sulaiman Al Naqbi, UAE Consul-General in Shanghai, Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, Lin Ou, Chairman of Jiangnan Shipyard, Tony Liang, General Manager, Wanhua Chemical Group, Rong Yao of CSTC, Norbert Kray of DNV and Sebastien Fatet of GTT.
Al Masabi said, "As we expand our fleet to meet rising global demand for natural gas, our deepening partnership with Jiangnan Shipyard underscores the strong industrial ties between the UAE and China, reinforcing our shared commitment to powering global economic growth."
ADNOC L&S awarded shipbuilding contracts to Jiangnan Shipyard in 2022 for the six LNG carriers as part of the Company's strategic fleet expansion to meet the growing global demand for natural gas as a lower-carbon energy source.
During 2024, the Company further strengthened and modernised its asset base with new build contracts for up to 23 new energy-efficient vessels, including 8-10 LNG carriers, nine Very Large Ethane Carriers (VLECs) and four Very Large Ammonia Carriers (VLACs), adding in excess of 340 years of contracted income year-to-date.
In addition, the Navig8 acquisition is progressing well through regulatory approvals, with completion anticipated by 31st March 2025 at the latest. The expected contribution of the acquisition will further boost ADNOC L&S' profile as a global energy maritime logistics leader.
Lin Ou commented, "Under the great trust and support of ADNOC L&S, DNV, GTT and all relevant parties, Jiangnan has completed the construction of the first Mark III type large LNG carrier two months ahead of schedule. As a global leading shipbuilding company specialised in the full series of gas carriers, Jiangnan has demonstrated its comprehensive shipbuilding ability again. We are committed to delivering the remaining LNG carriers, VLECs and VLACs on time to support ADNOC L&S in its ambitious fleet expansion, and further strengthen our strategic cooperation."
Al Shelila has a capacity of 175,000m3, significantly larger than the 137,000m3 capacity of ADNOC L&S' current LNG carriers. Equipped with advanced energy-efficient technologies, including two new-generation LNG dual-fuel main engines, the vessel is designed to reduce methane emissions by up to 50% compared to older-generation technology.
The partnership between ADNOC L&S and Jiangnan Shipyard continues to strengthen. In 2020, AW Shipping, the strategic venture between ADNOC L&S and Wanhua Chemical, awarded Jiangnan Shipyard shipbuilding contracts for five Very Large Gas Carriers. This collaboration expanded in 2024 with further contracts for nine VLECs and four VLACs.
