Adnoc Wanhua joint venture orders VLGC trio at Jiangnan Shipyard

AW Shipping, a shipping joint venture set up by UAE’s Abu Dhabi National Oil Company (Adnoc) and China’s Wanhua Chemical, has placed an order at Jiangnan Shipyard for the construction of three 86,000 cu m very large gas carriers (VLGC).

Adnoc and Wanhua entered into an agreement worth $12bn in July last year to form a shipping joint venture in the LPG sector.

The jv, which aims at exploring and developing new downstream opportunities in the two countries, builds on a 10-year LPG supply contract.

The three newbuildings are scheduled for delivery in the third and fourth quarter of 2022, and will be deployed for LPG shipping operations between the two countries.

Jiangnan Shipyard has delivered a total of six VLGCs so far this year and it has another seven VLGCs under construction.