Abu Dhabi – Mubasher: ADNOC Logistics & Services (ADNOC L&S) has taken the delivery of the Arzanah vessel, which is the third of four dual-fuel engine very large crude carriers (VLCCs) this year.
Two VLCCs were delivered in June and July, while the fourth is set to join the UAE-based company’s fleet in the fourth quarter (Q4) of 2023, according to a press release.
Designed for long-haul voyages to ship crude to customers worldwide, Arzanah has a length of 336 metres and a deadweight of 300,000 metric tonnes, carrying around 2 million barrels of crude per voyage.
These vessels are expected to trade on the spot market and are built by Hanwha Ocean, formerly known as Daewoo Shipbuilding and Marine Engineering, at its Okpo Shipyard in South Korea.
The new build fleet is regarded as one of the most environmentally efficient VLCCs in operation, as it runs on liquefied natural gas (LNG). This comes as a part of ADNOC L&S’$2 billion commitment to build more environmentally efficient vessels.
During the first half (H1) of 2023, ADNOC L&S recorded a 327% leap in net profit to $307 million, compared to $72 million in H1-22.
Revenues amounted to $1.22 billion in the January-June 2023 period, an annual jump of 62% from $756 million.
