Adnoc Logistics & Services has entered a joint venture with China’s Wanhua Chemical Group to launch AW Shipping Ltd. The new entity will be incorporated in Abu Dhabi Global Market. The JV further solidifies Adnoc L&S’ position as the largest, fully integrated logistics and shipping company in the UAE and paves the way for the transportation of greater LPG volumes to China, in line with market demand.
AW Shipping will own and operate a fleet of ‘very large gas carriers’ (VLGCs) and tankers. It will transport LPG cargoes and other petroleum products, sourced from the ADNOC Group and other suppliers to Wanhua Group’s manufacturing bases in China and elsewhere. Last year, ADNOC L&S transported over 20 million metric tonnes of oil and gas products and dry bulk commodities.