According to Veson Nautical data, Qatar Gas Transport Company (Nakilat) is currently the shipowner with the highest market value in the Gulf Cooperation Council (GCC, including Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Oman and Bahrain), with a fleet value of US$11.9 billion including orders.
According to VesselsValue data, Nakilat’s fleet currently consists of 36 liquefied natural gas (LNG) carriers and liquefied petroleum gas (LPG) carriers, with another 30 on order. Nakilat invested in the construction of 15 large LNG carriers in February 2024, built at Samsung Heavy Industries, with each worth $230 million.
QatarEnergy, on the other hand, is the second largest owner of GCC, with a fleet valued at $8.57bn and 33 LNG carriers on order.
ADNOC L&S ranks third with a fleet value of $6.48 billion. However, in terms of number of vessels, ADNOC is the largest shipowner with 76 ships. ADNOC has acquired 80% of Navig8, and the transaction will be completed in 2027.
According to the data, the most popular ship types ordered by GCC’s owners in 2024 are LNG carriers, LPG carriers and tankers, with 44, 23 and 15 vessels respectively, with a total value of $14.3bn.
Among the GCC shipowners who ordered the most vessels last year, Nakilat was the largest buyer in the newbuilding sector, ordering a total of 30 vessels. Most of these were large 174,000 m³ LNG carriers, or about 57 per cent, followed by 271,000 m³ very large QC-MAX LNG carriers, or about 30 per cent, and 88,000 m³ VLGCs, or about 13 per cent.
AW Shipping ranked second, investing US$1.9 billion to order nine 93,000 m³ VLECs at Jiangnan Shipyard, scheduled for delivery between 2026-2027. The owner has also ordered four 99,000 m³ VLACs from Jiangnan Shipyard for delivery between 2026-2028.
QatarEnergy came in third with a $1.84 billion order for eight 174,000 m³ LNG carriers from Hanwha Ocean, scheduled for delivery between 2027 and 2028.