The joint venture of ADNOC Logistics & Services and Wanhua Chemical, called AW Shipping, has taken delivery of the vessel Yongjiang Gas, the first in a series of nine large capacity ethane carriers(VLECs) ordered from Jiangnan Shipyard in China.
Yongjiang Gas Vessel, a complete VLEC vessel
This delivery marks the beginning of a new phase for ADNOC L&S‘s energy fleet, in line with its strategy of decarbonization and coverage of potentially growing Asian markets.
[post_relacionado]The Gas Yongjiang vessel will operate under a 20-year time charter contract, which guarantees operational stability and long-term economic return. In addition, it is estimated that approximately US$4 billion in revenue will be generated through long-term agreements with a cumulative duration of 180 years, once the entire fleet is deployed.
The Yongjiang Gas design integrates energy-efficient technology and an optimized hull that reduce emissions. This strengthens ADNOC L&S and Wanhua Chemical’ s joint commitment to a more sustainable chemical supply chain. Since the inception of their alliance in 2018, the two companies have evolved from supply agreements to integrating large-scale shipping operations.
Jiangnan Shipyard, the company responsible for building the VLECs, has excelled in its ability to integrate smart technology solutions into ship design. Chairman Lin Ou mentioned the importance of building energy-efficient vessels as part of a sustained strategic collaboration with ADNOC L&S and Wanhua.
In addition to Yongjiang Gas, ADNOC L&S also took delivery of the vessel Al Reef, a state-of-the-art LNG carrier that is part of an order for six additional units. This expansion consolidates the company’s position as one of the key logistics players in global energy shipping, extending its reach to more than 50 countries and responding to the growing demand for petrochemical feedstocks.
Source and photo: ADNOC L&S