en.Wedoany.com Reported - Abu Dhabi National Oil Company's (Adnoc) logistics and services arm, Adnoc Logistics & Services (Adnoc L&S), is spending close to $1 billion to acquire multiple transport vessels as it seeks to bring more of its oil export logistics in-house. The company has purchased five Very Large Crude Carriers (VLCCs) from Frontline, with two priced at approximately $115 million each and three at around $120 million each; it has also acquired three Very Large Gas Carriers (VLGCs) for a total of $345 million. Three sources familiar with the matter disclosed the transactions to Reuters, while Adnoc declined to confirm the acquisitions, stating it would not comment on market speculation.

Following disruptions to shipping in the Red Sea and the Strait of Hormuz, available tanker capacity has tightened, prompting Adnoc to charter around 15 crude carriers to maintain shuttle operations and customer deliveries. The company also ships from Fujairah, Zirku Island, and Das Island, and conducts ship-to-ship transfers between Fujairah and Sohar, giving buyers additional lifting options even when the Strait of Hormuz is obstructed.

Adnoc L&S's current fleet includes eight VLCCs and seven VLGCs; within Adnoc's broader operations, it owns over 340 vessels and charters more than 600 annually. Last month, Adnoc L&S also ordered four 175,000-cubic-meter LNG carriers from Jiangnan Shipyard at a total cost of $900 million.

With the acquisition of the five VLCCs, Adnoc will further strengthen its control over shipping capacity, reducing its reliance on spot charters when regional shipping disruptions tighten vessel supply. However, this move does not eliminate the risks facing facilities within the Strait of Hormuz.