The fleet expansion includes six Very Large Crude Carriers and five Very Large Gas Carriers. Nine of these vessels were purchased on the secondary market and are slated for immediate service following delivery this quarter. The remaining two gas carriers, currently under construction at a Chinese shipyard, will join the fleet in late 2026.

This move aligns with a broader strategy to bypass regional maritime bottlenecks. By shifting loading operations toward Fujairah and Sohar, the UAE is effectively insulating its export volumes from potential disruptions in the Strait of Hormuz. The company’s logistics arm now manages a sprawling network of over 340 owned vessels and 600 chartered ships, reinforcing its position as a key player in the global energy market. This capital expenditure follows a $900 million order for four newbuild LNG carriers placed just last month, signaling an aggressive pursuit of rising international gas demand.