Navig8 Commences Commercial Management of 20 ADNOC L&S Tanker Vessels

Effective immediately, the vessels will be marketed through Navig8’s industry-leading pools.

London, United Kingdom – 20 January 2025: Navig8 is pleased to announce that it has commenced the commercial management of the ADNOC L&S tanker fleet, comprising 20 vessels.

This strategic move sees eight VLCCs, eight LR2s, and four LR1s join Navig8’s market-leading pools, further strengthening the company’s position as a global leader in commercial management. The transition represents a key step in aligning Navig8’s operations with ADNOC L&S following its recent acquisition of an 80% stake in the company.

The integration of these vessels into the Navig8 pools is expected to enhance the service and value delivered to both customers and the Navig8 group. This collaboration underscores the shared ambition of the organisations to work closely to swiftly enhance fleet performance.

Commenting on the announcement, Navig8 CEO Nicolas Busch said:

“I’m thrilled that ADNOC L&S has chosen to add their vessels to Navig8’s pools, cementing the acquisition as we look forward to the next phase in the group’s expansion. The addition of these vessels highlights our close working relationship and our shared commitment to drive growth across the business.”

Commenting on this milestone, Captain Abdulkareem Al Masabi, ADNOC L&S CEO said:

We are delighted that we have immediately transitioned our tankers’ commercial management and are leveraging Navig8’s expertise in commercial pooling. This strategic move will not only elevate the services we offer to our expanding global customer base but also unlocks substantial value and drives new growth opportunities. We anticipate efficiencies and value by leveraging the operational synergies between both companies.”

Navig8 is looking forward to having these vessels join the pools and they will be commercially marketed with immediate effect.

 

ADNOC L&S Fleet List
VLCC LR2 LR1
Al Bahyah Abu Dhabi-Iii Bani Yas
Arzanah Liwa-V Diyyinah-I
Habshan Al Falah Mezaira’a
Hafeet Al Ruwais Yamilah-Iii
Das Tarif
Zakum Al Bateen
Hili Al Khtam
Barakah Jarnain

 

For media inquiries, please contact: media@navig8group.com 

 

Navig8 Announces Completion of 80% Acquisition by ADNOC L&S for $1.04 Billion

  • Navig8’s presence in 15 cities will strengthen ADNOC L&S’ position in energy maritime logistics, with full ownership planned by 2027
  • Transaction adds Navig8’s modern fleet of 32 tankers to ADNOC L&S’ fleet and expands its service portfolio including commercial pooling and bunkering

London, United Kingdom – 08 January 2025: Navig8 TopCo Holdings Inc. (Navig8 / the Company) today announced that it has been acquired by ADNOC Logistics and Services plc (ADNOC L&S) (ADX symbol: ADNOCLS / ISIN: AEE01268A239), a global leader in energy maritime logistics.

Navig8 is an international shipping pool operator and commercial management company with a modern owned fleet of 32 tankers and a presence in 15 cities across five continents. The Navig8 Group also holds investments in technical management companies, a marine fuels provider operating in over a thousand ports worldwide, and other enterprises serving the marine sector.

This deal represents a significant milestone for the Company, founded in 2007 as a private organisation by former traders Gary Brocklesby and Nicholas Busch. The acquisition is set to deliver value to both Navig8 and ADNOC L&S’ clients and shareholders, fostering opportunities for commercial growth and entry into new markets.

Nicolas Busch, CEO of Navig8, said: “We are excited to join forces with ADNOC L&S and the wider ADNOC Group. This achievement highlights the exceptional efforts of the Navig8 team over the past two decades, setting the stage for this next phase. Together, we aim to deliver even greater benefits to our customers, supporting ADNOC L&S’s growth and expanding Navig8’s presence in new markets.”

Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said: “The completion of this landmark acquisition is a significant milestone in our transformational growth strategy. By integrating Navig8’s extensive fleet and global presence, we can enhance our service offerings, generating substantial value for customers and shareholders. This strategic move unlocks new opportunities for commercial growth and expansion into new markets, reinforcing our position as a leading global energy maritime logistics company.”

Financial Highlights

ADNOC L&S has acquired 80% of Navig8 for $1.04 billion (AED3.8 billion), with economic ownership effective from January 1, 2024. ADNOC L&S will acquire the remaining 20% ownership in mid-2027, for deferred consideration of between $335 million and $450 million (AED1.2 billion to AED1.7 billion), dependent on EBITDA delivery ad-interim, payable at that time.

For media inquiries, please contact: media@navig8group.com