Adnoc expands tanker fleet with $1.3bn acquisition

Key facts

• Adnoc Logistics and Services is acquiring 11 tankers for $1.3 billion.
• The acquisition includes six VLCCs and five VLGCs.
• The tankers will boost Adnoc's crude and LPG shipping capacity.
• Cheniere's seventh LNG train at Corpus Christi is nearing production.
• First output from Cheniere's Corpus Christi train is expected imminently.
• Cheniere expects to raise its 2026 output guidance.
• Rosatom has permitted seven Chinese vessels for the Northern Sea Route.
• The vessels are transiting to Europe via the Northern Sea Route.
• Sea Legend Shipping plans a regular container service on the route.
• Sea Legend Shipping aims for weekly journeys by 2026.

Abu Dhabi's Adnoc Logistics and Services is set to enhance its crude and liquefied petroleum gas (LPG) shipping capabilities through a substantial acquisition. The company is purchasing 11 new tankers for a total of $1.3 billion. This fleet expansion includes six Very Large Crude Carriers (VLCCs) and five Very Large Gas Carriers (VLGCs). The acquisition is designed to increase Adnoc's overall fleet size and prepare for anticipated higher export volumes of UAE oil and gas.

In the United States, Cheniere Energy is nearing a significant milestone at its Corpus Christi liquefied natural gas (LNG) facility in Texas. The seventh and final LNG production train at the site is expected to begin producing output imminently. This earlier-than-anticipated startup of the train is projected to enable Cheniere to raise its production guidance for 2026. The Corpus Christi facility is a key component of Cheniere's LNG export infrastructure.

Meanwhile, Russia's state nuclear corporation, Rosatom, has authorized seven Chinese transit vessels to navigate the Northern Sea Route en route to Europe. This development represents the establishment of what is planned to be the first regular container service along this Arctic passage, operated by Chinese Sea Legend Shipping. The company aims to conduct weekly journeys on this route by 2026, offering a new transit option between Asia and Europe.