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ADNOC bolsters ultramax fleet

United Arab Emirates-based Abu Dhabi National Oil and its shipowning arm ADNOC Logistics & Services has added its third ultramax, bringing its bulker arm up to seven ships.

Sources say the outfit has purchased the one-year-old Tsuneishi-built 63,000 dwt Isabella Manx from MX Bulk Management for around $26m.

ADNOC’s first purchases in the ultramax segment was in April when it paid $53m for two 2019-built bulkers, Kifissos and Ilissos.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.
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