AW Shipping, the joint venture between ADNOC Logistics and Services (ADNOC L&S) and Wanhua Chemical Group, has received Gas Yongjiang, the first of nine advanced Very Large Ethane Carriers (VLECs) constructed at Jiangnan Shipyard in China.
The vessel will operate under a 20-year time charter agreement, with the remaining eight VLECs scheduled for handover between 2025 and 2027.
Once the full fleet is deployed, it is expected to generate around USD 4 billion in revenue through long-term agreements spanning 180 years collectively. Upon completion, AW Shipping will operate one of the largest VLEC fleets globally.
Captain Abdulkareem Al Masabi, Chairman of AW Shipping and CEO of ADNOC L&S, stated: “The arrival of Gas Yongjiang, the first VLEC in our fleet, represents a key milestone in our expansion strategy and entry into the international ethane shipping sector.
“These nine specialised vessels, designed exclusively for ethane transport – a vital raw material for the petrochemical industry – will strengthen our ability to serve rising demand, particularly across rapidly expanding Asian markets, while consolidating our position in lower-carbon energy shipping.”
Gas Yongjiang ranks among the world’s largest ethane carriers, with a carrying capacity of 98,000 cubic metres. It features optimised hull architecture and integrated energy-efficient technologies that contribute to a substantial reduction in emissions.
