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ADNOC Logistics buys five VLCC supertankers amid Hormuz shipping strain
The purchase is about $590 million, with each VLCC capable of carrying up to 2 million barrels of crude oil.
ADNOC Logistics and Services is buying five very large crude carriers, or VLCCs, to better manage ADNOC’s crude deliveries as tighter vessel supply linked to the Middle East crisis disrupts shipping, Reuters reported on Friday. The deal value is about $590 million, and the ships are capable of carrying up to 2 million barrels of crude oil each, according to Reuters’ sources. ADNOC L&S is acquiring the VLCCs from Frontline Plc, and the company said it does not comment on rumours or market speculation while noting it reviews fleet needs and growth opportunities.
The timing aligns with the United Arab Emirates’ push to raise crude production and exports after exiting OPEC earlier this year, Reuters said. The regional conflict has also stalled traffic through the Strait of Hormuz.
UAE crude output reached 4.1 million barrels per day in June, its highest level ever, according to International Energy Agency estimates cited by Reuters. That was nearly double March 2026 production after Middle Eastern producers slashed output at the start of the Hormuz crisis, and it topped the prior record of 4.0 million bpd from spring 2020.
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