Abu dhabi: ADNOC Logistics and Services plc (ADNOC LandS / the Company) today announced that AW Shipping, its joint venture with Wanhua Chemical Group, has taken delivery of Gas Yongjiang, the first of nine state-of-the-art Very Large Ethane Carriers (VLECs) from Jiangnan Shipyard in China. The vessel will commence operations under a 20-year time charter agreement. The remaining eight VLECs are scheduled for delivery between 2025 and 2027.
According to Emirates News Agency, the fleet is projected to generate approximately $4 billion (AED14.7 billion) in revenue through long-term contracts totaling 180 years once fully deployed. Upon delivery of all nine vessels, AW Shipping will operate one of the world's largest VLEC fleets. Captain Abdulkareem Al Masabi, Chairman of AW Shipping and CEO of ADNOC LandS, highlighted the significance of the delivery, noting that these vessels are critical for boosting capacity to meet growing demand, especially in fast-growing Asian markets.
Kou Guangwu, President and CEO of Wanhua Chemical Group, emphasized the growth of the partnership since its inception in 2018, evolving from raw material supply to include shipping operations. He expressed readiness to further strengthen cooperation for high-value chemical projects, aiming for strategic win-win outcomes through resource integration.
Lin Ou, Chairman of Jiangnan Shipyard, noted the commitment to building intelligent, high-value, and energy-efficient vessels. The trust from ADNOC LandS and Wanhua Chemical supports joint innovation and customer-focused collaboration to explore new possibilities in intelligent manufacturing.
Gas Yongjiang, with a capacity of 98,000 cubic meters, stands as one of the world's largest ethane carriers. Its optimized hull designs and integrated energy-saving technologies significantly reduce emissions, promoting sustainable growth. Additionally, ADNOC LandS received Al Reef, the third of six LNG carriers from Jiangnan Shipyard, signaling the company's strategy to modernize its gas fleet.
The naming and delivery ceremony, attended by senior executives from ADNOC LandS, Wanhua Chemical Group, and Jiangnan Shipyard, featured Sharifa Al Mulla as the ceremonial sponsor. She is the first Emirati female officer to serve aboard the ADNOC LandS commercial shipping fleet.