Abu Dhabi, ADNOC Logistics and Services announced today that AW Shipping, and its joint venture with Wanhua Chemical Group, has awarded shipbuilding contracts to Jiangnan Shipyard in China, priced at approximately AED7 billion in total to build up to 13 new tankers, with deliveries starting from 2025.
The contract for the construction of nine Very Large Ethane Carriers (VLECs) is priced at approximately AED5.1 billion and the contract for two Very Large Ammonia Carriers is priced at approximately AED900 million, with the option for another two VLACs at the same price.
The new vessels will be among the world’s largest ethane and ammonia carriers and run on energy-efficient dual-fuel engines. The VLECs will be deployed on 20 years’ time charter contracts, generating revenue of AED14.7 billion through 180 years of contract coverage. Reported by the Emirates News Agency (WAM).
The contracts were signed in Beijing at a ceremony witnessed by Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology
and ADNOC Managing Director and Group CEO, Liao Zengtai, Wanhua Chemical Group Chairman, and several officials.
Source: Bahrain News Agency