Adnoc L&S currently delivers energy products to more than 100 customers in about 50 countries. Photo: Adnoc L&S
Adnoc L&S currently delivers energy products to more than 100 customers in about 50 countries. Photo: Adnoc L&S
Adnoc L&S currently delivers energy products to more than 100 customers in about 50 countries. Photo: Adnoc L&S
Adnoc L&S currently delivers energy products to more than 100 customers in about 50 countries. Photo: Adnoc L&S

Adnoc L&S has signed $4.4bn in contracts to build 23 supertankers this year


Alkesh Sharma
  • English
  • Arabic

Adnoc Logistics and Services has signed contracts totalling $4.4 billion to build 23 supertankers designed for transporting ethane, ammonia and liquefied natural gas so far this year as it seeks to expand its global footprint.

Through its joint venture AW Shipping, the maritime logistics unit of Abu Dhabi hydrocarbons major Adnoc has awarded $1.9 billion in contracts to China’s Jiangnan Shipyard for the construction of nine large ethane carriers and four large ammonia carriers, Adnoc L&S chief executive Capt Abdulkareem Al Masabi told state news agency Wam on Thursday.

The company also signed contracts valued at $2.5 billion with South Korean shipyards Samsung Heavy Industries and Hanwha Ocean to build up to 10 LNG carriers, boosting its capacity to meet the global demand for low-carbon energy.

“The investment aims to support the energy transition and open new markets for the company, while advancing its efforts to reduce carbon emissions in industrial operations,” Wam quoted Mr Al Masabi as saying.

The company’s sustainability initiatives align with Adnoc’s target of net zero by 2045, the UAE’s net zero by 2050 strategy and the International Maritime Organisation’s 2050 net-zero target.

Adnoc L&S currently delivers energy products to more than 100 customers in about 50 countries through its three business units – integrated logistics, shipping and marine services. It has the largest diversified fleet in the region, with more than 800 owned, operated and chartered vessels.

The company listed on the Abu Dhabi bourse in June last year after parent company Adnoc raised about Dh2.83 billion ($770 million) from the sale of a 19 per cent stake in the subsidiary.

In July, Adnoc L&S awarded Samsung Heavy Industries and Hanwha Ocean up to Dh9.2 billion in shipbuilding contracts to build LNG carriers. It also said in June it was acquiring global shipping pool operator Navig8 TopCo Holdings to strengthen its fleet and expand into other markets.

The company is also "committed to supporting the local economy through the In-Country Value [ICV] enhancement programme, with its contribution rate reaching 86 per cent in 2023", Mr Al Masabi said.

The Khorfakkan Zakum tanker operated by Adnoc L&S. Photo: Adnoc L&S
The Khorfakkan Zakum tanker operated by Adnoc L&S. Photo: Adnoc L&S

The UAE Ministry of Industry and Advanced Technology’s ICV programme, which seeks to support domestic industrial growth, redirected more than Dh48 billion to the country’s economy in the first half of 2024. The programme aims to redirect half of government spending on procurements and tender contracts into the national economy by 2031.

In a separate announcement on Thursday, Adnoc said it had awarded Dh720 million in contracts to 11 companies to boost local manufacturing, in line with the ICV programme. Additionally, Adnoc partners unveiled eight new manufacturing facilities, bringing the total ICV-enabled sites to 33 since the programme's inception.

Launched in 2018, Adnoc’s ICV programme has reinvested Dh187 billion into the UAE’s economy and created 14,000 private-sector jobs for Emiratis, with plans to drive Dh178 billion more into the economy and create an additional 13,500 jobs by 2028.

“Through our ICV programme, we are boosting the UAE’s manufacturing capacity, enhancing self-sufficiency and reinforcing our role as a catalyst for the nation’s growth and diversification," said Yaser Saeed Almazrouei, Adnoc’s executive director for people, commercial and corporate support.

Adnoc also urged local and international companies to partner with it and explore long-term manufacturing opportunities.

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if you go

The flights

Direct flights from the UAE to the Nepalese capital, Kathmandu, are available with Air Arabia, (www.airarabia.com) Fly Dubai (www.flydubai.com) or Etihad (www.etihad.com) from Dh1,200 return including taxes. The trek described here started from Jomson, but there are many other start and end point variations depending on how you tailor your trek. To get to Jomson from Kathmandu you must first fly to the lake-side resort town of Pokhara with either Buddha Air (www.buddhaair.com) or Yeti Airlines (www.yetiairlines.com). Both charge around US$240 (Dh880) return. From Pokhara there are early morning flights to Jomson with Yeti Airlines or Simrik Airlines (www.simrikairlines.com) for around US$220 (Dh800) return. 

The trek

Restricted area permits (US$500 per person) are required for trekking in the Upper Mustang area. The challenging Meso Kanto pass between Tilcho Lake and Jomson should not be attempted by those without a lot of mountain experience and a good support team. An excellent trekking company with good knowledge of Upper Mustang, the Annaurpuna Circuit and Tilcho Lake area and who can help organise a version of the trek described here is the Nepal-UK run Snow Cat Travel (www.snowcattravel.com). Prices vary widely depending on accommodation types and the level of assistance required. 

The biog

Name: Younis Al Balooshi

Nationality: Emirati

Education: Doctorate degree in forensic medicine at the University of Bonn

Hobbies: Drawing and reading books about graphic design

10 tips for entry-level job seekers
  • Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
  • Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
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  • For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
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  • Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
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  • Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
  • Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
  • Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.

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When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid

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Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.

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Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.

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The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.

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The combined event was broadcast to an estimated worldwide audience of 1.5 billion.

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Name: Tratok Portal

Founded: 2017

Based: UAE

Sector: Travel & tourism

Size: 36 employees

Funding: Privately funded

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Updated: November 07, 2024, 4:45 PM