AW Shipping, a 50:50 joint venture between the UAE’s ADNOC Logistics & Services (ADNOC L&S) and China’s Wanhua Chemical, has ordered three very large gas carriers (VLGCs). Chinese shipbuilder Jiangnan Shipyard will construct the three carriers with each capacity of 86,000 cubic meters. These ships will be delivered in the third and fourth quarter of 2022.
The newly-established joint venture will own and operate a fleet of VLGCs and product tankers. AW Shipping will transport LPG and petroleum products produced by ADNOC and other producers to Wanhua’s production sites in China and other countries. It will also consider serving other markets to pursue maximum fleet efficiency.
ADNOC and Wanhua have a ten-year LPG supply deal which was signed in November 2018. Wanhua Chemical will start a new 1 million tons/year cracker that is expected to use nearly 100% LPG as feedstock.
