ADNOC Logistics & Services (ADNOC L&S) has continued its strong vessel acquisition momentum by ordering three large gas carriers from a leading private Chinese shipbuilder.
On October 6, ADNOC L&S announced an additional order for three 90,000 cbm Very Large Gas Carriers (VLGCs). Scheduled for delivery in the second half of 2029, the vessels represent a total investment of $324 million (AED 1.19 billion), equating to a unit cost of approximately $108 million.
While ADNOC L&S did not disclose the shipbuilder, market reports indicate that the VLGCs will be built by Hengli Heavy Industries. Upon delivery, they will enter service under a seven-year charter agreement with ADNOC Global Trading (AGT).
ADNOC L&S began its collaboration with Hengli Heavy Industries in the field of large gas carrier construction two years ago. News first emerged in September 2024 that ADNOC L&S had secured two VLGC building slots at Hengli Heavy Industries; subsequently, the two parties signed a contract for two ammonia-ready Very Large Ammonia Carriers (VLACs)—a vessel type that is an upgraded derivative of the VLGC.
In addition to the officially announced order for three 90,000 cbm VLGCs, ADNOC L&S recently confirmed agreements to acquire five VLGCs, comprising three secondhand vessels and two newbuilds via resale. The secondhand vessels are scheduled for delivery in the third quarter of 2026 and will enter service immediately upon handover, while the resale newbuilds—constructed by a Chinese shipyard—are slated for delivery in the fourth quarter of 2026.
Regarding shipbuilders, Hengli Heavy Industries last publicly announced a gas carrier order in September—specifically, an order from Greek shipping giant Dynacom for six 93,000 cbm VLACs, with delivery dates ranging from April 2028 to April 2031. In the VLAC segment, Hengli Heavy Industries ranked first among individual shipyards globally during the first seven months of 2026, securing orders for 14 VLACs.
As of the end of July 2026, Hengli Heavy Industries had received orders for nearly 550 vessels in its first four years of operation, with delivery schedules extending through 2030. In terms of production capacity, Hengli Heavy Industries currently has an annual steel processing capacity of 3 million tons and an annual production capacity of 300 marine engines. Its four main dry docks can simultaneously build Very Large Crude Carriers (VLCCs) and 10,000-TEU container ships in bulk. Economies of scale and complementary advantages enable the company to achieve rhythmic construction and bulk deliveries.