The Abu Dhabi National Oil Co (ADNOC) has renewed half of its bulker fleet with extremely rare moves on the secondhand market.
ADNOC Logistics & Services (ADNOC L&S), the state-company’s commercial shipping arm, has spent $53m on a pair of modern ultramax vessels purchased from Greece’s Peraticos family. It raised nearly 50% of that money from the parallel sale of a handysize trio built in 2010 and 2011.
