AW Shipping, ADNOC Logistics and Services’ (ADNOC L&S) joint venture with Wanhua Chemical Group, has taken delivery of Gas Yongjiang, the first of its nine state-of-the-art Very Large Ethane Carriers (VLECs) from Jiangnan Shipyard in China.
Gas Yongjiang will commence operations under a 20-year time charter agreement. The remaining eight VLECs are scheduled for delivery between 2025 and 2027.
Upon full deployment, the fleet is projected to generate approximately US$4 billion in revenue through long-term contracts totalling 180 years. Once all nine vessels are delivered, AW Shipping will operate one of the world’s largest VLEC fleets.
Captain Abdulkareem Al Masabi, Chairman of AW Shipping and CEO of ADNOC L&S, commented: “The delivery of Gas Yongjiang, the first VLEC to join the AW Shipping fleet, marks a significant milestone in our fleet expansion and entry into the global ethane shipping market.
“These nine vessels, purpose-built to transport ethane, a critical feedstock for the global petrochemical industry, will boost our capacity to meet growing demand, particularly in fast-growing Asian markets and reinforce our leadership in lower-carbon energy transport.”
Gas Yongjiang is one of the world’s largest ethane carriers, with a capacity of 98,000 cubic meters. The vessel has optimised hull designs and integrated energy-saving technologies, which significantly reduce emissions.
Kou Guangwu, President & CEO of Wanhua Chemical Group, added: “Since the beginning of our collaborative journey in 2018, the partnership between Wanhua Chemical and ADNOC L&S has grown from raw material supply to encompass a broad spectrum of services, including shipping operations.
“Both companies are ready to further strengthen their cooperation for high-value chemical projects while fostering synergies that leverage resource integration and compatible strengths to achieve strategic win-win outcomes.”
ADNOC L&S also received Al Reef, the third of six LNG carriers from the shipyard. The vessel underscores its strategy to modernise its gas fleet to meet global energy demand.
Lin Ou, Chairman of Jiangnan Shipyard, said: “The naming of Gas Yongjiang and Al Reef reflects Jiangnan Shipyard’s commitment to building intelligent, high-value, and energy-efficient vessels. Backed by the trust of ADNOC L&S and Wanhua Chemical, we continue to pursue joint innovation and customer-focused collaboration to unlock new possibilities in intelligent manufacturing.”
