ADNOC Logistics & Services (ADNOC L&S), ADNOC’s shipping and maritime logistics subsidiary, announced AW Shipping Limited, a shipping joint venture it set with China’s Wanhua Chemical Group. The new entity is incorporated in the UAE’s Abu Dhabi Global Market (ADGM). This formation of the new joint venture followed ADNOC-Wanhua’s 10-year LPG supply contract signed in November 2018.
AW Shipping will transport LPG and petroleum products produced by ADNOC and other producers to Wanhua’s manufacturing sites in China and other countries. It will own and operate a fleet of VLGCs and product tankers. AW Shipping will also consider serving other markets to pursue maximum fleet efficiency.
ADNOC L&S, which was established in 2016, provides shipping, marine, as well as offshore and onshore logistics services. In 2019, the company handled the transport of more than 20 million tons of dry bulk commodities and oil & gas products.
