ADNOC L&S gains Navig8 tankers with pooling, bunkering portfolio from acquisition

Global energy maritime logistics company ADNOC Logistics and Services (ADNOC L&S) on Wednesday (8 January) said it has completed its acquisition of an 80% stake in Navig8 TopCo Holdings (Navig8) for USD 1.04 billion (AED3.8 billion), with a contractual commitment to acquire the remaining 20% in mid-2027. 

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.

ADNOC L&S said the transaction adds Navig8’s 32 tankers to ADNOC L&S’ fleet. The acquisition also enables it to expand its service portfolio by adding commercial pooling and bunkering services, internationalising commercial reach and technical management, and extending ESG-focused industrial and digital solutions.

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.”

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.

Photo credit: ADNOC L&S
Published: 9 January, 2025