Abu Dhabi state oil company subsidiary ADNOC L&S has announced delivery of a second new crude carrier in two months, as part of a $2 billion growth strategy.

The newbuild very large crude carrier (VLCC) is a four dual-fuel engine ship, meaning it can also run on liquefied natural gas (LNG).

The company said in a bourse filing that it has committed $2 billion to building more environmentally efficient vessels and has reduced the carbon intensity of its owned fleet by more than 20% since 2018.

The first VLCC was delivered last month while the third and fourth are scheduled for delivery in the third and fourth quarters respectively, a bourse filing said.

The 336m vessels, which can carry up to 2 million barrels of crude per voyage, were built in South Korea by Hanwha Ocean, formerly Daewoo Shipbuilding and Marine Engineering, and are anticipated to trade on the spot market.

(Writing by Imogen Lillywhite; editing by Brinda Darasha)

(imogen.lillywhite@lseg.com)