Latest news with #WanhuaChemical
Arabian Business
5 days ago
- Business
- Arabian Business
ADNOC L&S JV in China receives first of nine VLECs in major fleet expansion
AW Shipping, ADNOC Logistics and Services' (ADNOC L&S) joint venture with Wanhua Chemical Group, has taken delivery of Gas Yongjiang, the first of its nine state-of-the-art Very Large Ethane Carriers (VLECs) from Jiangnan Shipyard in China. Gas Yongjiang will commence operations under a 20-year time charter agreement. The remaining eight VLECs are scheduled for delivery between 2025 and 2027. ADNOC's JV fleet expansion Upon full deployment, the fleet is projected to generate approximately US$4 billion in revenue through long-term contracts totalling 180 years. Once all nine vessels are delivered, AW Shipping will operate one of the world's largest VLEC fleets. Captain Abdulkareem Al Masabi, Chairman of AW Shipping and CEO of ADNOC L&S, commented: 'The delivery of Gas Yongjiang, the first VLEC to join the AW Shipping fleet, marks a significant milestone in our fleet expansion and entry into the global ethane shipping market. 'These nine vessels, purpose-built to transport ethane, a critical feedstock for the global petrochemical industry, will boost our capacity to meet growing demand, particularly in fast-growing Asian markets and reinforce our leadership in lower-carbon energy transport.' Gas Yongjiang is one of the world's largest ethane carriers, with a capacity of 98,000 cubic meters. The vessel has optimised hull designs and integrated energy-saving technologies, which significantly reduce emissions. Kou Guangwu, President & CEO of Wanhua Chemical Group, added: 'Since the beginning of our collaborative journey in 2018, the partnership between Wanhua Chemical and ADNOC L&S has grown from raw material supply to encompass a broad spectrum of services, including shipping operations. 'Both companies are ready to further strengthen their cooperation for high-value chemical projects while fostering synergies that leverage resource integration and compatible strengths to achieve strategic win-win outcomes.' ADNOC L&S also received Al Reef, the third of six LNG carriers from the shipyard. The vessel underscores its strategy to modernise its gas fleet to meet global energy demand. Lin Ou, Chairman of Jiangnan Shipyard, said: 'The naming of Gas Yongjiang and Al Reef reflects Jiangnan Shipyard's commitment to building intelligent, high-value, and energy-efficient vessels. Backed by the trust of ADNOC L&S and Wanhua Chemical, we continue to pursue joint innovation and customer-focused collaboration to unlock new possibilities in intelligent manufacturing.'
Zawya
5 days ago
- Business
- Zawya
ADNOC L&S JV receives first Very Large Ethane Carrier in major fleet expansion
ADNOC Logistics and Services plc (ADNOC L&S / the Company) today announced that AW Shipping, its joint venture with Wanhua Chemical Group, has taken delivery of Gas Yongjiang, the first of nine state-of-the-art Very Large Ethane Carriers (VLECs) from Jiangnan Shipyard in China. The vessel will commence operations under a 20-year time charter agreement. The remaining eight VLECs are scheduled for delivery between 2025 and 2027. Upon full deployment, the fleet is projected to generate approximately $4 billion (AED14.7 billion) in revenue through long-term contracts totaling 180 years. Once all nine vessels are delivered, AW Shipping will operate one of the world's largest VLEC fleets. Captain Abdulkareem Al Masabi, Chairman of AW Shipping and CEO of ADNOC L&S, stated, "The delivery of Gas Yongjiang, the first VLEC to join the AW Shipping fleet, marks a significant milestone in our fleet expansion and entry into the global ethane shipping market. These nine vessels, purpose-built to transport ethane, a critical feedstock for the global petrochemical industry, will boost our capacity to meet growing demand, particularly in fast-growing Asian markets and reinforce our leadership in lower-carbon energy transport.' Kou Guangwu, President & CEO of Wanhua Chemical Group, said, 'Since the beginning of our collaborative journey in 2018, the partnership between Wanhua Chemical and ADNOC L&S has grown from raw material supply to encompass a broad spectrum of services, including shipping operations. Both companies are ready to further strengthen their cooperation for high-value chemical projects while fostering synergies that leverage resource integration and compatible strengths to achieve strategic win-win outcomes.' Lin Ou, Chairman of Jiangnan Shipyard, said, The naming of Gas Yongjiang and Al Reef reflects Jiangnan Shipyard's commitment to building intelligent, high-value, and energy-efficient vessels. Backed by the trust of ADNOC L&S and Wanhua Chemical, we continue to pursue joint innovation and customer-focused collaboration to unlock new possibilities in intelligent manufacturing.' Gas Yongjiang is one of the world's largest ethane carriers, with a capacity of 98,000 cubic meters. The vessel has optimised hull designs and integrated energy-saving technologies significantly reduce emissions, driving sustainable, value-driven growth. ADNOC L&S also received Al Reef, the third of six state-of-the-art LNG carriers from Jiangnan Shipyard. The arrival of the vessel underscores the company's strategy to modernise its gas fleet and strengthen its role in meeting global energy demand. The naming and delivery ceremony of both vessels was attended by senior executives from ADNOC L&S, Wanhua Chemical Group, and Jiangnan Shipyard. Sharifa Al Mulla, the ceremonial sponsor of both vessels, is the first Emirati female officer to serve aboard the ADNOC L&S commercial shipping fleet.
Zawya
6 days ago
- Business
- Zawya
ADNOC L&S joint venture receives first Very Large Ethane Carrier in major fleet expansion
RELATED TOPICS MARITIME RELATED COMPANIES Marine Intl Hldg Aw Shipping ADNOC L&S ADNOC L&S Wanhua ADNOC L&S VLEC fleet to operate under 20-year charter contracts, generating approximately $4 billion in total revenue ADNOC L&S also receives Al Reef, third of six LNG Carriers built by Jiangnan Shipyard Shanghai, China/Abu Dhabi, UAE – ADNOC Logistics and Services plc (ADNOC L&S / the Company) (ADX symbol: ADNOCLS / ISIN: AEE01268A239), a global energy maritime logistics leader, today announced that AW Shipping, its joint venture with Wanhua Chemical Group, has taken delivery of Gas Yongjiang, the first of nine state-of-the-art Very Large Ethane Carriers (VLECs) from Jiangnan Shipyard in China. The vessel will commence operations under a 20-year time charter agreement. The remaining eight VLECs are scheduled for delivery between 2025 and 2027. Upon full deployment, the fleet is projected to generate approximately $4 billion (AED14.7 billion) in revenue through long-term contracts totaling 180 years. Once all nine vessels are delivered, AW Shipping will operate one of the world's largest VLEC fleets. Captain Abdulkareem Al Masabi, Chairman of AW Shipping and CEO of ADNOC L&S, stated: "The delivery of Gas Yongjiang, the first VLEC to join the AW Shipping fleet, marks a significant milestone in our fleet expansion and entry into the global ethane shipping market. These nine vessels, purpose-built to transport ethane, a critical feedstock for the global petrochemical industry, will boost our capacity to meet growing demand, particularly in fast-growing Asian markets and reinforce our leadership in lower-carbon energy transport .' Kou Guangwu, President & CEO of Wanhua Chemical Group, said: 'Since the beginning of our collaborative journey in 2018, the partnership between Wanhua Chemical and ADNOC L&S has grown from raw material supply to encompass a broad spectrum of services, including shipping operations. Both companies are ready to further strengthen their cooperation for high-value chemical projects while fostering synergies that leverage resource integration and compatible strengths to achieve strategic win-win outcomes.' Lin Ou, Chairman of Jiangnan Shipyard, said: The naming of Gas Yongjiang and Al Reef reflects Jiangnan Shipyard's commitment to building intelligent, high-value, and energy-efficient vessels. Backed by the trust of ADNOC L&S and Wanhua Chemical, we continue to pursue joint innovation and customer-focused collaboration to unlock new possibilities in intelligent manufacturing.' Gas Yongjiang is one of the world's largest ethane carriers, with a capacity of 98,000 cubic meters. The vessel has optimized hull designs and integrated energy-saving technologies significantly reduce emissions, driving sustainable, value-driven growth. ADNOC L&S also received Al Reef, the third of six state-of-the-art LNG carriers from Jiangnan Shipyard. The arrival of the vessel underscores the company's strategy to modernize its gas fleet and strengthen its role in meeting global energy demand. The naming and delivery ceremony of both vessels was attended by senior executives from ADNOC L&S, Wanhua Chemical Group, and Jiangnan Shipyard. Sharifa Al Mulla, the ceremonial sponsor of both vessels, is the first Emirati female officer to serve aboard the ADNOC L&S commercial shipping fleet. Note: In 2024, AW Shipping awarded shipbuilding contracts to the Jiangnan Shipyard for the construction of the nine VLECs, priced at approximately $1.4 billion (AED5.1 billion) and a contract for four Very Large Ammonia Carriers (VLACs) priced at approximately $500 million (AED1.8 billion). The VLECs and VLACs will help meet the growing demand for ethane and ammonia to decarbonize industrial processes. About ADNOC Logistics & Services ADNOC Logistics & Services Plc, listed on the Abu Dhabi Securities Exchange (ADX symbol ADNOCLS / ISIN AEE01268A239) is a global energy maritime logistics company based in Abu Dhabi. Through its three business units – Integrated Logistics, Shipping and Services – ADNOC L&S delivers energy products and solutions to more than 100 customers in over 50 countries. ADNOC L&S' key subsidiaries include Zakher Marine International Holdings (100% ownership), an Abu Dhabi-based owner and operator of offshore support vessels; and Navig8 (80% ownership), a global ship owner and commercial pools operator also offering bunkering and ship management solutions. To find out more, visit: For media enquiries, please contact: media@ For investors enquiries, please contact: IR@
Yahoo
30-07-2025
- Business
- Yahoo
China to lead worldwide MDI capacity additions through to 2030
China is anticipated to add an MDI [methylene diphenyl diisocyanate] production capacity of 0.80 million tonnes per annum (mtpa) between 2025 and 2030. The capacity additions in the country are from two planned projects: the Wanhua Chemical Fujian Company Fuzhou MDI plant, and the Xinjiang Heshan Juli Chemical Yantai MDI plant – each with a capacity of 0.40 mtpa. Located in Fujian and Shandong provinces respectively, the two are expected to commence operations in 2025 and 2027. China is poised to lead global MDI capacity additions by 2030, mainly due to its massive manufacturing sector that relies heavily on MDI for industrial applications. MDI is a critical chemical intermediate essential for the manufacture of polyurethanes, a highly versatile polymer with extensive applications in numerous industries such as construction, refrigeration and electronics. The remaining capacity additions in the world are likely to be added from two projects under construction, one in the US and one in Vietnam. The capacity addition in the US is expected to be from a planned project in Louisiana, the BASF Geismar MDI plant 2, expected to come online in 2026 with an annual production capacity of 0.30 mtpa. BASF SE holds a 100% equity stake in the project and is also its designated operator. In Vietnam, the capacity addition is anticipated from the Tosoh Vietnam Polyurethane Vung Tau MDI plant based in Ba Ria Vung Tau province, which is expected to commence operations in 2026 with a capacity of 0.13 mtpa. Tosoh Vietnam Polyurethane Co Ltd is the proposed operator of this project. Further details of global MDI capacity and capex analysis can be found in GlobalData's new report: Methylene Diphenyl Diisocyanate (MDI) Industry Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants to 2030. "China to lead worldwide MDI capacity additions through to 2030" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Korea Herald
06-06-2025
- Business
- Korea Herald
Wanhua Chemical and ElevenEs signed a strategic agreement for battery materials: Collaborate to create a localized supply chain of battery cathode materials in Europe
MEISHAN, China, June 6, 2025 /PRNewswire/ -- Recently, Wanhua Chemical Battery Technology Co., Ltd. (hereinafter referred to as "Wanhua Chemical") and ElevenEs, a leading European manufacturer of lithium iron phosphate (LFP) batteries, successfully signed a Memorandum of Understanding (MOU) in Meishan, Sichuan. Mr. Wang Xiaoxing, General Manager of Wanhua Chemical Battery Technology Co., Ltd., and Mr. Nemanja Mikać, Founder and CEO of ElevenEs, attended the signing ceremony. This collaboration aims to establish a comprehensive supply and technical partnership covering products such as LFP cathode materials, PVDF (polyvinylidene fluoride) binders, NMP (N-methyl-2-pyrrolidone) solvents, etc., to promote the sustainable development of both parties in the new energy industry. Wanhua Chemical, with its industrial chain advantages and decades of experience in process development and engineering research, has established a battery material integrating battery material technology development, equipment process technology development, and battery cell application technology research. The company has also established a complete technical platform for cathode and anode materials, binders, and solvents. Under the agreement, the parties express their intention to cooperate on LFP and other high-quality raw materials. At the same time, both parties will jointly form a technical team, exchange technical and market information, and accelerate the development of their products and markets. Wanhua Chemical will utilize its production bases and global supply chain to support ElevenES battery production in Serbia. Mr. Wang Xiaoxing, General Manager of Wanhua Battery Company, stated: "This strategic collaboration with ElevenEs marks a significant step in Wanhua Chemical's localization of battery material supply chains in Europe. We will leverage our strengths in material R&D, production processes, and global footprint to provide ElevenEs with high-performance LFP cathode materials and integrated solutions, jointly advancing the sustainable development of Europe's new energy industry." Mr. Nemanja Mikać, Founder of ElevenEs, stated: "Wanhua Chemical's profound expertise in battery materials and global production capacity will significantly support ElevenEs in achieving our localized supply chain goals. This partnership not only strengthens our raw material security but also accelerates innovation through technical synergy, delivering more competitive LFP battery products to the European market." In the future, both parties plan to deepen cooperation in areas such as electric vehicles (EVs) and energy storage systems (ESS), continuously expand cooperation in battery materials, cell products, product and technology development, market expansion, and other fields, and jointly create a win-win situation for both parties to reinforce their leading positions in the global new energy industry. About ElevenEs ElevenEs is a development and industrial investment of Al Pack Group, an international leader in aluminum processing with over 30 years of high-precision manufacturing expertise – including processes closely aligned with the production of electrodes, the active component of LFP batteries. ElevenEs is recognized and supported by EIT InnoEnergy, a leading global investor in sustainable energy. The establishment of a state-of-the-art Research and Development laboratory and center is operational since June 2021. Following the successful completion and commissioning of the pilot production line in mid-2023, ElevenEs is on track to build the initial Megafactory with a capacity of approximately 1000 MWh (1 GWh) during 2025 and 2026. This will be followed by the first phase of the Gigafactory, targeting an annual production capacity of 8GWh and the second phase of the Gigafactory in Europe and the USA, targeting the total annual production capacity of 40GWh (20 + 20) by 2031.
