World News
ADNOC L&S Orders Four More LNG Carriers at Jiangnan Shipyard
UAE-based ADNOC Logistics & Services (ADNOC L&S) has ordered four 175,000 m3 LNG carriers from China's Jiangnan Shipyard in a deal worth about $900 million.
The vessels, scheduled for delivery in 2029, will increase ADNOC L&S' LNG newbuild programme to 18 ships, the firm said in a press release on Friday.
The company said the new carriers are expected to operate under long-term charter contracts, providing stable revenues while supporting global LNG trade.
"As global demand for natural gas continues to rise, this latest order reflects our confidence in the strong fundamentals of the LNG shipping market," Captain Abdulkareem Al Masabi, CEO of ADNOC & L&S, said.
The order follows the delivery of six LNG carriers from Jiangnan Shipyard, while another eight LNG carriers are under construction at South Korea's Samsung Heavy Industries and Hanwha Ocean, with delivery starting in 2028.
Since 2022, ADNOC L&S has committed more than $5 billion to fleet expansion.
The company also took delivery of a very large ammonia carrier from Jiangnan Shipyard last week.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 963.00 | 26.00 | 1351.50 | 10.50 |
| Rotterdam | 766.00 | 3.00 | 1446.00 | 11.50 |
| Houston | 817.00 | 11.50 | 1421.00 | 1.00 |
| Fujairah | 981.00 | 12.00 | 1768.50 | 17.50 |
| Global 20 Ports Average | 929.50 | 10.50 | 1565.00 | 13.00 |
| Global 4 Ports Average | 882.00 | 13.50 | 1496.50 | 9.50 |
| Global Average Bunker Price | 978.50 | 20.00 | 1616.50 | 18.50 |
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