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Adnoc L&S JV receives first Very Large Ethane Carrier from China
Gulf Today
|August 16, 2025
Adnoc Logistics and Services (Adnoc L&S) announced that AW Shipping, its joint venture (JV) 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.
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The vessel will commence operations under a 20-year time charter agreement. The remaining eight VLECs are scheduled for delivery between 2025 and 2027.
Upon full deployment, the fleet is projected to generate approximately $4 billion (Dhs14.7 billion) in revenue through long-term contracts totaling 180 years. Once all nine vessels are delivered, AW Shipping will operate one of the world's largest VLEC fleets.
Captain Abdulkareem Al Masabi, Chairman of AW Shipping and CEO of AdnocL&S, stated, "The delivery of Gas Yongjiang, the first VLEC to join the AW Shipping fleet, marks a significant milestone in our fleet expansion and entry into the global ethane shipping market."
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