“AW Navigation,” the joint venture between the UAE and Chinese companies, was established in 2020 with the aim of supporting the global operations of ADNOC Logistics & Services and strengthening industrial cooperation between the two countries, according to a statement.
The contracts were awarded to the Chinese “Jiangnan Shipyard” to build nine ethane tankers for approximately 5.1 billion AED ($1.4 billion), and two ammonia tankers for about 900 million AED ($250 million), with an option to build two giant ammonia tankers at the same price.
“The new tankers will be among the largest ethane and ammonia tankers in the world and will be equipped with energy-efficient dual-fuel engines,” according to the statement.
The giant ethane tankers will be used under 20-year lease contracts, with expected revenues of 14.7 billion AED ($4 billion) over the 180-year contract period, the statement added.
The ethane tankers will have a capacity of 99,000 cubic meters each and will be equipped with engines that operate on ethane or conventional fuel. They are scheduled to be delivered between 2025 and 2027. The ammonia tankers will have a capacity of 93,000 cubic meters each and will be equipped with engines that operate on liquefied petroleum gas or conventional fuel, with deliveries expected between 2026 and 2028.
