QUEENSWAY

ADNOC Logistics & Services (ADNOC L&S) has agreed to acquire 11 tankers for approximately $1.3 billion, expanding its crude oil and liquefied petroleum gas (LPG) shipping capacity to support ADNOC Group's growing production, trading and export activities.The acquisition comprises five very large gas carriers (VLGCs) and six very large crude carriers (VLCCs). Nine vessels - six VLCCs and three VLGCs - were acquired on the secondary market and are scheduled for delivery in the third quarter of 2026, after which they will enter service with ADNOC L&S.

China-based offshore wind foundations manufacturer Dajin Heavy Industry has delivered KING TWO, the second 40,000 DWT heavy deck carrier in its self-developed and self-built KING series.The delivery represents a step in expanding the company's offshore vessel-building capabilities, marking the transition of the vessel class into standardized batch construction following the commercial deployment of KING ONE.KING TWO has an overall length of 239.8 meters, a beam of 51 meters, a 12,000-square-metre cargo deck, and a range of 16,000 nautical miles.

Ocean Network Express (ONE) reported a profitable first quarter for fiscal 2026, overcoming higher fuel costs and geopolitical disruptions through strong cargo demand, disciplined capacity management and rising freight rates, while continuing to invest in fleet modernization under its long-term ONE2030 strategy.For the quarter ended June 30, 2026, the Singapore-based container carrier generated revenue of $4.54 billion, EBITDA of $707 million and EBIT of $76 million, resulting in a net profit of $31 million. The carrier transported 3.26 million TEU during the quarter at an average freight rate of $1,300 per TEU.

Abu Dhabi National Oil Company said on Friday it was being significantly impacted by what it described as unprovoked attacks on its people and assets, as it sought to continue meeting customer requirements in an "exceptionally challenging environment."ADNOC said in a statement that 15 of its vessels had been attacked by missiles and drones while transiting the Strait of Hormuz since the start of the conflict, including three this week, leaving one crew member dead and 20 injured.The Strait of Hormuz, between Iran and Oman, is the world's most important oil shipping chokepoint, carrying roughly a fifth of global oil consumption.

This year's annual meeting for the National Waterways Conference will be held in Moline, Illinois, co-hosted by Corn Belt Ports. This marks the first non-coastal state to host since Memphis, Tennessee in 2019.Attendees will be able to connect with water and waterways leaders, federal partners, and industry stakeholders for three days of policy discussion, networking, and on-the-water learning along the Upper Mississippi River system.Moline sits in the heart of the Quad Cities, where water resources infrastructure, agriculture, freight movement, flood management, water supply, ecosystem restoration, recreation, and regional economic priorities come together in one watershed.