Gas Carrier Newbuilds Surge as SFL Enters Ammonia Market and ADNOC L&S Commits $324m to VLGC Expansion

## Gas Carrier Investment Accelerates with Major Newbuild Commitments The gas carrier sector is seeing a fresh wave of capital commitment, with two significant newbuild orders announced this week underscoring continued confidence in the long-term demand for liquefied gas transportation — including emerging clean-fuel cargoes. ### SFL Makes Ammonia Carrier Debut John Fredriksen-backed SFL Corporation has entered the ammonia carrier market with an order for two 93,000 cbm very large ammonia carriers (VLACs), according to Splash247. The vessels will be capable of carrying a wide range of petrochemical gases and will feature dual-fuel propulsion systems alongside the latest technology for fuel efficiency and cargo intake optimisation. The move marks a strategic diversification for SFL into the growing ammonia logistics space, which is attracting increasing interest as the maritime industry looks to ammonia both as a future zero-carbon fuel and as a commodity cargo in its own right. Delivery timelines have not yet been fully disclosed, but the order signals SFL's intent to position itself at the intersection of traditional gas shipping and the energy transition. ### ADNOC L&S Doubles Down on VLGC Fleet Growth In a separate announcement, Abu Dhabi-listed ADNOC Logistics & Services has committed AED 1.19 billion ($324 million) to three 90,000 cbm very large gas carrier (VLGC) newbuildings, continuing what Splash247 describes as 'one of shipping's more aggressive fleet expansion programmes.' The three vessels are scheduled for delivery in the second half of 2029 and have already been secured on long-term charters, providing revenue visibility from the outset. The investment reinforces ADNOC L&S's ambition to become a dominant force in global gas logistics, backed by the substantial hydrocarbon output of its parent, Abu Dhabi National Oil Company. ### Hormuz Security Situation Deteriorates On a more concerning note, the Strait of Hormuz witnessed a serious escalation in maritime security incidents on 5 October, with four vessel attacks reported to the United Kingdom Maritime Trade Operations (UKMTO). Seatrade Maritime has identified the owners of the targeted ships as Sinokor, Maran Gas, and Sinogas — a mix of South Korean, Greek, and Chinese-affiliated operators — highlighting the indiscriminate nature of the threat to commercial shipping transiting the strategically critical waterway. The attacks add to a pattern of Hormuz-area incidents that have kept risk premiums elevated for vessels operating in the region. Shipowners and charterers are advised to monitor UKMTO advisories closely and review their passage risk assessments accordingly. --- *Sources: Splash247, Seatrade Maritime*