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FINANCIAL NEWS
ADNOC’s shipping arm receives new oil tanker
08 Oct 2011
(MENAFN) Khaleej Times reported lately that Abu Dhabi National Oil Company’s shipping arm ADNATCO acquired the last of 15 oil tankers from Hyundai Heavy Industries (HHI).
General Manager of ADNATCO & NGSCO said that the delivery of M.T. Liwa-V marks the last of this series of new vessels which started with the first delivery of M.V. Shah on October 2010.
The 105,000 tonne deadweight M.T. Liwa-V is expected to load her first cargo from the Far East, on her maiden vaoyage in laden condition.
M.T. Liwa-V and its sister ship M.V. Abu Dhabi-III, which was delivered in July, are the largest new build oil tankers delivered to Abu Dhabi National Tanker Company (ADNATCO) and National Gas Shipping Company Ltd (NGSCO).
By completing the last oil tanker acquisition ADNATCO & NGSCO turns into a major regional shipping company with a total fleet of 30 ships including eight LNG carriers and 22 ships.
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