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Adnoc Logistics and Services (Adnoc L&S) on Friday announced a newbuilding order for an additional four next-generation LNG carriers with a total value of approximately $900 million (Dhs3.3 billion).
Each vessel has a capacity of 175,000 m³, enabling the efficient transport of growing global gas production to meet rising demand around the world. The vessels, with delivery scheduled for 2029, will be constructed at Jiangnan Shipyard in Shanghai, China.
The contract was signed in Shanghai during a ceremony witnessed by Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and Adnoc Managing Director and Group CEO; Hussain Al Hammadi, UAE Ambassador to China; Hassan Al Nowais, Undersecretary of Ministry of Industry and Advanced Technology; Wang Guoqiang, General Manager of CSSC; and Kou Guangwu, President of Wanhua Chemical. The signatories were Captain Abdulkareem Al Masabi, CEO of Adnoc L&S and Xiao Wenlin, Chief Executive Officer of Jiangnan Shipyard.
Captain Abdulkareem Al Masabi said, “As global demand for natural gas continues to rise, this latest order reflects our confidence in the strong fundamentals of the LNG shipping market. Building on our robust earnings growth and diversified operations, we are investing in a next-generation fleet to efficiently connect key supply sources with high-growth demand centres and support the global energy transformation.” The latest order brings Adnoc L&S’ total LNG newbuild programme to 18 vessels, underscoring its commitment to building one of the most advanced and efficient LNG shipping fleets globally.
Adnoc L&S has already taken delivery of six 175,000 m³ LNG carriers from Jiangnan Shipyard, valued at $1.2 billion (Dhs4.4 billion), with five vessels deployed on contracts of up to 15 years with Adnoc Gas, providing stable and predictable revenues since May 2026.
The four additional next-generation LNG carriers are expected to be deployed on long-term charters, enhancing visibility on future revenues and supporting stable energy flows to global markets.
Xiao Wenlin said, “Adnoc Logistics & Services’ continued trust in Jiangnan Shipyard – following the previous orders of six LNG carriers, nine VLECs, four VLACs as well as an earlier order of five VLGCs – underscores a long-standing partnership and a shared commitment to delivering world-class vessels.” During Dr. Sultan Al Jaber’s visit to Jiangnan Shipyard, Adnoc L&S marked the delivery of “Meera”, the first of four Very Large Ammonia Carriers (VLACs). In 2024, AW Shipping, a joint venture between Adnoc L&S and Wanhua Chemical Group, placed a US$1.9 billion (Dhs7 billion) order for four VLACs and nine Very Large Ethane Carriers (VLECs) with two delivered in 2025. The visit concluded with a naming ceremony, where Rayan Al Shami, Business Excellence Analyst at Adnoc L&S, served as the vessel’s ‘Godmother’. With a carrying capacity of 93,000 cubic meters, Meera ranks among the world’s largest ammonia carriers.
A further eight LNG carriers, with an investment volume of some US$2.5 billion (Dhs9.2 billion), are under construction at Samsung Heavy Industries and Hanwha Ocean. These vessels are scheduled for delivery from 2028, and are all contracted on 20-year time charters to Adnoc Gas.
Including its 50 per cent share of the AW Shipping newbuild programme, Adnoc L&S has committed over $5 billion to fleet expansion since 2022.
The company bases its investment decisions on long-term customer demand and contracted revenues, providing earnings visibility while supporting sustainable shareholder value.
The new vessels will strengthen Adnoc L&S’ capacity to deliver LNG to customers worldwide, supporting Adnoc’s broader LNG growth strategy and its recently launched global LNG marketing and trading platform, targeting 47 million tonnes per annum (mtpa) of combined marketable LNG by 2035.
Adnoc Logistics & Services (Adnoc L&S) announced an upgrade to its full‑year 2026 financial guidance, incorporating current performance delivered in the second quarter of 2026.
The Company wishes to further update the market on the ongoing strength of its Shipping segment. This updated guidance reflects actual performance year‑to‑date and assumptions for the remainder of the year that reflect ongoing market strength. The full-year results are highly dependent on regional dynamics.
Our Offshore Contracting segment has been positively impacted by gradual improvements in material handling volumes in the Integrated Logistics Services Platform (ILSP).
Guidance reflects higher ILSP material handling volumes and maintains previous guidance assumptions for our Jack-Up Barge fleet.
Guidance for capital expenditure, leverage and dividend policy remains unchanged and aligned with the Company’s capital allocation framework.
Adnoc Logistics and Services, delivered a resilient performance in the first quarter of 2026, reflecting the strength of its diversified business model and global scale.
Adnoc L&S recorded EBITDA of $368 million (Dhs1,353 million) for the first three months of 2026, up 7 per cent Year-on-Year (YoY). The EBITDA margin expanded to 34 per cent, up 5 percentage points YoY. Net profit rose 20 per cent YoY to $222 million (AED816 million). Revenue for the quarter stood at $1,083 million (Dhs3,976 million) with the 10 per cent YoY decline reflecting the scheduled run‑off of project revenues following the delivery of Al Omairah Island mega project to Adnoc Offshore in Q4 2025.
WAM
