ADNOC Logistics & Services (ADNOC L&S), the shipping arm of Abu Dhabi National Oil Co., has agreed to acquire 11 tankers for approximately $1.3 billion, one of its largest fleet expansions to date. The deal covers six Very Large Crude Carriers (VLCCs) and five Very Large Gas Carriers (VLGCs), each capable of carrying around 2 million barrels of crude or large volumes of fuels like propane.

What's being acquired

Nine of the eleven vessels, all six VLCCs and three of the VLGCs, are being bought on the secondhand market and are scheduled for delivery in the third quarter of 2026, entering service with ADNOC immediately after handover. The remaining two VLGCs are newbuild vessels acquired through a resale from a Chinese shipyard, with delivery expected in the fourth quarter of 2026. Industry sources have linked the VLCC side of the deal to sellers including Frontline and Delta Tankers, with Petredec named on the VLGC side.

Once complete, the acquisition will nearly double ADNOC L&S's VLCC fleet to 14 ships, up from eight, and grow its VLGC fleet to 12 vessels.

Why ADNOC is buying now

The timing lines up with a surge in UAE crude exports. After leaving OPEC, the country has been pushing more oil through the contested Strait of Hormuz, and ADNOC has reportedly moved more crude through the strait over the past two months than any other producer, often relying on its own vessels and chartered tankers to keep exports flowing during the ongoing US-Iran conflict.

"This $1.3 billion investment reflects the disciplined execution of our growth strategy and our commitment to building world-class maritime logistics capabilities for the energy sector," said Abdulkareem Al Masabi, CEO of ADNOC L&S, adding that the new vessels will help the company serve customers in key markets and capture opportunities in international energy trade.

The purchase also follows a wider trend of tightening tanker supply. A South Korean-backed buying spree has already snapped up dozens of supertankers this year, pushing earnings higher across the tanker market and prompting more producers to secure their own dedicated shipping capacity rather than compete for charter tonnage.

Part of a bigger buildout

This deal builds on a run of expansion moves by ADNOC L&S. In July, the company placed a newbuilding order for four next-generation LNG carriers worth roughly $900 million, each with a capacity of 175,000 cubic meters, scheduled for delivery in 2029 from Jiangnan Shipyard in Shanghai.

Key takeaways

  • ADNOC L&S's VLCC fleet will nearly double to 14 ships once the deal closes.
  • Nine vessels arrive in Q3 2026, with two newbuild VLGCs following in Q4 2026.
  • The buy reflects producers' growing preference for owned tanker capacity amid Strait of Hormuz disruption and a tightening charter market.
  • It follows a $900 million LNG carrier order in July, part of a broader fleet growth strategy.

For freight forwarders and shippers watching the tanker and energy logistics space, moves like this signal where capacity is heading next, and why staying close to real market activity, not static estimates, matters when planning shipments in this region.