ADNOC L&S Acquires Ultramax Bulk Carrier

ADNOC Logistics & Services (L&S), the maritime arm of Abu Dhabi's national oil firm ADNOC, has acquired an Ultramax bulk carrier Al Karama. The purchase follows the acquisition of two Ultramax carriers earlier this year.

The Al Karama bulk carrier vessel was built in 2019 and has a deadweight of 64,000 metric tons, ADNOC said. According to data from VesselsValue, the vessel was previously known as Isabella Manx, owned by MX Bulk.

According to ADNOC L&S, the bulk carrier will immediately be deployed on key ADNOC L&S trading routes, including the transport of sulfur from facilities in Ruwais, Abu Dhabi, to global customers.

The Al Karama joins the Motor Vessel Al Dhafra and Motor Vessel Al Wathba, which were built in 2019 in Japan, as part of the ADNOC L&S  Ultramax dry bulk fleet.

"These vessels play an important role in delivering products to ADNOC customers around the world and, in particular, service the long-term sulfur supply agreement signed between ADNOC and OCP Morocco, one of the world’s largest sulfur importers," ADNOC said.

Abdulkareem Al Masabi, Chief Executive Officer of ADNOC L&S, said, "The addition of these modern bulk carriers to our fleet is a key milestone in the delivery our growth plans. The vessels will increase ADNOC L&S’ regional presence and will enable allow us to explore more cargo options outside the UAE market.

“As we continue to invest in our shipping fleet to service our global network of customers, we remain focused on delivering a safer and smarter growth strategy in shipping, driving growth opportunities and creating value for ADNOC, Abu Dhabi, and the UAE.”