Navig8 Group has officially commenced the commercial management of ADNOC Logistics & Services’ (ADNOC L&S) tanker fleet. The collaboration involves the inclusion of 20 tankers in Navig8’s pools:
• 8 very large crude carriers (VLCCs)
• 8 long-range type 2 tankers (LR2s)
• 4 long-range type 1 tankers (LR1s)
This move follows ADNOC L&S’s $1.04 billion acquisition of an 80% stake in Navig8, with the remaining 20% to be acquired by mid-2027 for a deferred consideration ranging between $335 million and $450 million, depending on EBITDA performance.
Strategic Benefits:
• Enhanced Fleet Performance: The partnership aims to optimize operational efficiencies and improve service delivery for ADNOC L&S’s global customer base.
• Market Expansion: The acquisition fosters new commercial growth opportunities and access to global markets.
• Operational Synergies: Both parties are leveraging pooling expertise to deliver value to clients and shareholders.
Leadership Remarks:
• Nicolas Busch, CEO of Navig8, expressed enthusiasm:
“The addition of ADNOC L&S vessels to Navig8’s pools solidifies our partnership and strengthens our shared ambition to drive growth.”
• Abdulkareem Al Masabi, CEO of ADNOC L&S, highlighted the strategic impact:
“Leveraging Navig8’s pooling expertise elevates our services and unlocks substantial value while driving efficiencies and growth opportunities.”
This partnership marks a pivotal step in the global maritime logistics sector, underscoring both companies’ commitment to innovation, efficiency, and expansion.
