Navig8 commences commercial management of 20 ADNOC L&S tanker vessels

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January 21 2025 Print This Article

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.