Adnoc Logistics and Services (Adnoc L&S) announced that AW Shipping, its joint venture with Wanhua Chemical Group, has taken delivery of Gas Yongjiang, the first of nine state-of-the-art Very Large Ethane Carriers (VLECs) from Jiangnan Shipyard in China.

The vessels will begin operations under a 20-year time charter agreement, with the remaining eight VLECs scheduled for delivery between 2025 and 2027.

The fleet is projected to generate approximately $4 billion in revenue through long-term contracts totaling 180 years.

Once all nine vessels are delivered, AW Shipping will operate one of the world’s largest VLEC fleets.