Adnoc looks at listing its merged shipping division

Adnoc looks at listing its merged shipping division

State-run Abu Dhabi National Oil Co (Adnoc) is looking at a listing for its merged shipping division, Bloomberg reports.

Adnoc is in the midst of merging its three maritime units: Abu Dhabi National Tanker Co, known as Adnatco, with offshore services firm Esnaad, and Abu Dhabi Petroleum Ports, a merger that is expected to be completed by the end of this year, at which point it will look at an IPO for the unit which will boast around 165 vessels. Bloomberg reported the listing is unlikely to happen before 2019.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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