AW Shipping, ADNOC L&S’s joint venture with Wanhua Chemical Group, awarded shipbuilding contracts to Jiangnan Shipyard in China
The new vessels will increase the company’s fleet of LNG carriers from 14 to at least 22 vessels
The acquisitions will give the Abu Dhabi maritime logistics firm access to Navig8’s fleet of 32 tankers and global footprint across five continents
The company’s board of directors approved an interim cash dividend of $65m (Dhs239m) for Q2 2023, equivalent to 3.2 fils per share
ADNOC L&S attributed its strong performance to its expansion of asset and customer base, decarbonisation of operations, and entering new verticals
The contract covers dredging, land reclamation and marine construction of an artificial island for the Lower Zakum offshore field
ADNOC sold 1.41 billion shares in its maritime logistics unit at Dhs2.01 a share, valuing the company at $4.05bn
The maritime logistics firm expects the final offer price to be announced on May 26, after the book-building process
The carriers have dual-fuel engine technology and use liquified petroleum gas as their primary fuel source
Each vessel will have a capacity of 175,000 cubic metres – enough to power 45,000 homes for a year