Abu Dhabi to merge shipping units after offshore energy combined

Gulft state Abu Dhabi plans to merge tree shipping and port units into one major shipping company from late 2017. The move comes just a month after consolidating two oil and gas companies.

Photo: SaudiAramco

Abu Dhabi National Oil Co. will combine three shipping and ports units less than a month after consolidating two offshore oil and gas businesses.

Abu Dhabi National Tanker Co., Petroleum Services Co. and Abu Dhabi Petroleum Ports Operating Co. will be combined, effective by the end of 2017, government-run Adnoc said Tuesday in a statement. Adnoc said it expects the consolidation to lead to improved efficiency and savings, which it didn’t specify.

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