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ADNOC Logistics & Services spends $1.3bn on 11 ships as Hormuz risk raises fleet-control stakes
ADNOC Logistics & Services is adding six crude tankers and five gas carriers in a $1.3 billion fleet expansion designed to support higher ADNOC export volumes. Rapid secondary-market deliveries strengthen near-term earnings capacity, but the investment arrives as Strait of Hormuz disruption exposes the operational risks attached to owning more shipping assets in the Gulf.