Adnoc’s logistics subsidiary eyes smart growth opportunities following shipping JV, CEO says – The National

Adnoc’s logistics subsidiary eyes smart growth opportunities following shipping JV, CEO says – The National

AW Shipping may also 'pursue other market opportunities' to deliver maximum fleet efficiency













Abu Dhabi National Oil Company's logistics and services unit is evaluating 'smart growth' opportunities and joint ventures, as it looks to grow its fleet capacity to meet demand.



Adnoc Logistics and Services, which will form a shipping joint venture with China's Wanhua Chemical Group plans to add a fleet of ten liquefied petroleum gas and long-range product tankers to its portfolio, chief executive Captain Abdulkareem Al Masabi told The National.





"We are working with our partners to build up some JVs where we see very smart, a win-win situation for both parties,“ he said.



"Our crude capacity expansion is continuing and will continue. And that is all actually under plan. We have acquired ultra-maxes this year. There's no stopping our growth plans,“ Capt. Al Masabi added.



The new company, AW Shipping, is incorporated in Abu Dhabi Global Market and will be responsible for transporting LPG and other products sourced from Adnoc as well as international suppliers. The carriers and tankers will deliver the products to manufacturing bases in China and around the world.



AW Shipping may also "pursue other market opportunities“