Of the top owners within the GCC, taking into account both the live fleet and on order, Qatar Gas Transport Co is currently the top GCC company in monetary terms, with a fleet value of USD 11.9 bn. The fleet consists of 36 live LNG and LPG vessels with a further 30 on order.
Qatar Gas also placed the highest value newbuilding order in February 2024 with their investment in 15 large LNG vessels, scheduled to be built at Samsung and contracted for USD 230 mil each—which equates to a total of USD 3.5 bn.
QatarEnergy is the second largest owner with a fleet value of USD 8.57 bn with an order book of 33 Large LNG vessels.
ADNOC Logistics and Services rank third with a fleet value of USD 6.48 bn. However, in terms of vessels numbers, ADNOC have the largest fleet with 76 vessels. ADNOC has received a boost in rankings due to its acquisition of an 80% stake in Navig8, set to be completed in 2027.
In 2024, the top ship types ordered by GCC based companies were LNG, LPG, and Tanker sectors with 44, 23, and 15 vessels contracted respectively at a total value of USD 14.3 bn.
Of the top GCC companies ordering vessels last year, Qatar Gas Transport Co. were the biggest spenders in the newbuilding sector, ordering 30 vessels, amounting to an impressive USD 7.2 bn. The bulk of this order consisted of Large LNG vessels of 174,000 CBM, which accounted for c.57%, followed by QMAX LNG of 271,000 CBM with a share of c.30%. Finally, VLGC LPG orders of 88,000 CBM accounted for c.13%.
AW Shipping ranked second, investing USD 1.9 bn in nine VLEC vessels of 93,000 CBM, which are scheduled to be built at Jiangnan Shanghai Changxing and delivered between 2026-27. They also ordered four VLAC vessels of 99,000 CBM at the same yard, which are scheduled to be delivered between 2026-28.
QatarEnergy is in third place, spending USD 1.84 bn for eight Large LNG vessels of 174,000 CBM, scheduled to be built at Hanwha Ocean and delivered between 2027-28.
Tankers were the most popular vessel purchased within the GCC zone in 2024, with 156 transactions taking place and worth an impressive USD 5 bn as the supply-demand imbalance caused by the Red Sea crisis fuelled market sentiment and expectations of high earnings.
This kept values strong for this sector, and there was plenty of second-hand market throughout the year as this also boosted orders for new vessels.
The LNG sector was the second most active last year with a spend of USD 1.8 bn for just 12 vessels. The majority of these acquisitions were for the Large LNG sector with an average age of 11 years.
Bulkers were the third most popular vessel purchased in 2024 with 51 sales reported and valued at USD 772 million. Smaller vessels were the most popular, with the majority of purchases in the Handy/Supra/Ultramax sectors with a share of c.69%, followed by Panamax/Kamsarmaxes accounting for c.18%, and finally, Capesizes accounting for just c.13%.
Press Release
the title: “The Benefits of Mindfulness Meditation for Mental Health”
Mindfulness meditation has gained popularity in recent years as a powerful tool for improving mental health and well-being. This ancient practice involves focusing on the present moment and cultivating a non-judgmental awareness of thoughts, emotions, and sensations. Research has shown that mindfulness meditation can have a range of positive effects on mental health, making it an important practice for anyone looking to improve their overall well-being.
One of the key benefits of mindfulness meditation is its ability to reduce stress and anxiety. By training the mind to focus on the present moment, individuals can learn to let go of worries about the past or future, leading to a greater sense of calm and relaxation. Studies have shown that regular mindfulness meditation practice can lower levels of the stress hormone cortisol and decrease symptoms of anxiety disorders.
In addition to reducing stress and anxiety, mindfulness meditation has also been shown to improve mood and decrease symptoms of depression. By cultivating an awareness of thoughts and emotions without judgment, individuals can learn to respond to difficult situations with greater resilience and compassion. This can help to break the cycle of negative thinking that often accompanies depression and lead to a more positive outlook on life.
Furthermore, mindfulness meditation has been found to enhance emotional regulation and increase self-awareness. By becoming more attuned to their thoughts and emotions, individuals can better understand the underlying causes of their feelings and behavior. This increased self-awareness can lead to greater emotional intelligence, improved relationships, and a greater sense of inner peace.
Overall, the benefits of mindfulness meditation for mental health are numerous and well-documented. By incorporating this practice into your daily routine, you can experience greater emotional resilience, improved mood, and a greater sense of well-being. Whether you are struggling with stress, anxiety, or depression, mindfulness meditation can be a powerful tool for promoting mental health and enhancing your overall quality of life.