Abu Dhabi – Mubasher: AW Shipping, a joint venture (JV) with Wanhua Chemical Group and ADNOC Logistics & Services (ADNOC L&S), has awarded contracts worth $250 million (AED 918 million) to China’s Jiangnan Shipyard for two additional Very Large Ammonia Carriers (VLACs).
Initial contracts for two vessels with the option for a further two were signed by the companies in China in July 2024, according to a press release.
The VLACs have a carrying capacity of 93,000 cubic metres of ammonia, each. The vessels, which are scheduled to be delivered between 2027 and 2028, will be equipped with energy-efficient dual-fuel engines capable of operating on liquefied petroleum gas or conventional fuels.
Abdulkareem Al Masabi, Chairman of AW Shipping and CEO of ADNOC L&S, indicated: “We are pleased to welcome Jiangnan Shipyard as they establish a new office in Abu Dhabi, strengthening our growing partnership and highlighting the robust industrial ties between the UAE and China.”
Lin Ou, Chairman of Jiangnan Shipyard, commented: “CSSC Jiangnan Shipyard will take the Middle East Representative Office as a new starting point to strengthen cooperation with oil and gas companies, shipping companies and other related enterprises in Middle East countries while paying attention to the market demands for energy transportation and marine equipment, and continuously innovating and improving across multiple fields. "
Kou Guangwu, President and CEO of Wanhua Chemical Group, said: “We value highly the strategic partnership with ADNOC L&S and Jiangnan Shipyard, and these new shipbuilding orders demonstrate our intention to take our relationship to another level.”
In the six-month period that ended on 30 June 2024, ADNOC L&S posted 31% higher net profits at $401 million, compared to $307 million in H1-23.
