ADNOC L&S makes $1.3bn VLCC and VLGC swoop

Abu Dhabi-listed ADNOC Logistics & Services has put $1.3bn to work on an 11-ship buying spree, picking up six VLCCs and five VLGCs through secondhand and newbuild resale deals. Nine ships – all six VLCCs and three VLGCs – have been acquired on the secondhand market and are due for delivery in the third quarter. … Read full article →