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Adnoc plans to merge shipping units

21 Oct 2016
Abu Dhabi National Oil Company (Adnoc) has unveiled plans to consolidate the operations of three of its shipping, marine and services companies to create a single world-class entity. 

The Abu Dhabi National Tanker Company (Adnatco), Petroleum Services Company (Esnaad), and Abu Dhabi Petroleum Ports Operating Company (Irshad) will be integrated to boost productivity and improve resource efficiency. 

The new company will operate 1656 vessels, which will include LNG vessels, bulk carriers, chemical and products tankers, containers and support vessels. 

Dr Sultan Ahmed Al Jaber, UAE Minister of State and Adnoc Group CEo, said: "By leveraging the experience and assets across the three companies, we aim to deliver an improved and cost-effective service to meet the needs of the Adnoc Group. The consolidation will capture synergies, generate savings and ensure value creation. Upon completion of the integration, the new company will be uniquely positioned to further extend its services to customers worldwide."

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