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Wanhua Chemical Co., Ltd. and Abu Dhabi National Oil Company set up a ship operation joint venture company

Wanhua Chemical Co., Ltd. and Abu Dhabi National Oil Company set up a ship operation joint venture company

August 6, 2020

A new joint venture company established by both parties -

aw shipping

to strive to transport LPG and other petroleum products

invest in and operate vlgc and other ships

mainly serve the LPG cargo contract signed between Wanhua and ADNOC

Establish an example of win-win cooperation and value chain innovation

Wanhua petrochemical, a subsidiary of Wanhua Chemical Group Co., Ltd. (Wanhua chemical), and ADNOC ls, a shipping and logistics company under Abu Dhabi National Oil Company (ADNOC), officially announced the establishment of a strategic joint venture aw shipping Limited (aw shipping). The establishment of the joint venture will further deepen the cooperation between the two sides and will also become a link between the two countries

Wanhua chemical has signed long-term LPG supply contracts with ADNOC and other manufacturers. Aw shipping plans to invest in and operate vlgc and other oil tanker ships, and will be mainly used to transport Wanhua chemical LPG and related petrochemical raw materials, so as to ensure the stable operation of ships

Minister of industry and advanced technology of the United Arab Emirates and CEO of ADNOC group,

dr. Sultan Ahmed al Jaber


"I am very glad to establish a strategic cooperation relationship with Wanhua chemical group. This groundbreaking win-win partnership can not only strengthen the cooperation between the two parties, but also create value for the development of both companies. More importantly, the establishment of the joint venture will strengthen ADNOC ls' position as a sensitive comprehensive logistics and shipping company with the largest and most influential measurement institution in the UAE, and will deeply participate in the development of the Chinese market. Aw shipping The establishment of ADNOC will support the strategic layout of ADNOC's intelligent development and value chain creation. At the same time, it is also a good example of ADNOC group's strategic extension in the whole field of logistics and sales in the production, refining, and the upper beam of single space tensile testing machine will not be stressed in the testing process. "

Liaozengtai, chairman of Wanhua chemical group, said:

"I am glad that with the joint efforts of both sides, the joint venture can be successfully established. This will greatly strengthen the strategic cooperation between ADNOC and Wanhua chemical. At the same time, it will provide support for the stable supply of petrochemical raw materials and products such as LPG of Wanhua chemical, and create a long-term stable" UAE Yantai " "The quasi liner transportation thermoplastic composite manufacturing process needs a high efficiency mode. More importantly, the cooperation between the two sides will make a positive contribution to the" the Belt and Road "strategy."

adnoc LS was founded in 2016 and is committed to providing safe, reliable and cost-effective transportation services and related logistics solutions for ADNOC and its customers around the world. The company mainly operates crude oil, petroleum products, dry bulk cargo, liquefied natural gas and other ships, with a transportation volume of more than 20million tons in 2019

Wanhua chemical is a globally operated chemical new material company, which started in 1978 and was listed on the Shanghai Stock Exchange in 2001. Its business focuses on the three industrial platforms of polyurethane, petrochemical and fine chemicals. It has production bases in Yantai, Ningbo, Zhuhai, Hungary and other places, and builds a green ecological chemical park with high-end, digital and 0.01 second to full speed integration

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