ADNOC Logistics & Services invests $2bln in environmentally friendly ships: CEO

Capt. Abdulkareem Al Masabi, CEO of ADNOC Logistics and Services, announced that the company has invested $2 billion in environmentally friendly ships, including 13 ships equipped to use biofuel.

In a statement on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2023), Al-Musabi said that 37% of ADNOC Logistics and Services' ships are equipped with an AI-powered smart ship monitoring system owned by the company. This system has helped to reduce the carbon intensity of the company's fleet operations by more than 20% between 2018 and 2022.

Al-Musabi also highlighted the company's sustainability efforts, which are focused on decarbonizing the maritime sector and supporting efforts to accelerate emissions reductions in order to contribute to achieving the net-zero target by 2050. The company is adopting technological innovation to accelerate progress through the use of cleaner fuel options, next-generation engine technology, low-emission ships, and efficient energy management systems.

To support the reduction of carbon emissions, ADNOC Logistics and Services has taken effective measures to ensure that its maritime fleet meets the International Maritime Organisation's 2030 targets. These measures include significant investments in developing cleaner and more environmentally friendly fuels, designing low-emission ships, and adopting advanced energy efficiency management systems. As a result of these measures, the company has achieved a 21% reduction in carbon intensity since 2018. The company has also set a target of reducing carbon intensity by 40% by 2030 compared to 2016.

The company has equipped 37% of its ships with AI-powered smart monitoring systems, and 13 ships have been using biofuel since 2020. It is also building strategic partnerships with other companies to develop next-generation engine technologies, including hydrogen and alternative fuel engines, and zero-emission ships.

The company uses technologies such as artificial intelligence and machine learning to improve performance, manage maintenance, and monitor risks. The company aims to achieve 100% health, safety, and environmental compliance, and zero injuries, deaths, or catastrophic events by 2030.

ADNOC Logistics and Services is adopting a smart growth strategy to expand its geographic reach, expand into new business sectors, create new revenue streams, and strategically expand its fleet.

The strategy is based on the company's expertise and skills, the size and scope of its fleet, and the use of technology and innovation to support carbon reduction efforts and increase efficiency.

The currently supports over 100 customers in over 50 countries and is looking to expand further. The company is also exploring new business opportunities, such as carbon removal services, which could provide additional growth opportunities. For example, the company could own and operate green carriers that use low-carbon methanol or ammonia to transport clean hydrogen.

The company operates 5 logistics bases and warehouse facilities, and employs more than 7,000 people, over 3,200 seafarers, with a 48.2% rate of Emiratization.

ADNOC Logistics and Services is committed to enhancing local value by engaging with local companies, encouraging industrialisation at the regional level and driving industrial growth across all operations.

Source: WAM