By Abbas Nazil
ADNOC Logistics and Services (ADNOC L&S), the maritime logistics arm of Abu Dhabi’s national oil company, has successfully completed its acquisition of Navig8, a leading independent pool and commercial management company.
The deal, which was initially announced in June 2024, saw ADNOC acquire 80 percent of Navig8 for $1.04 billion.
ADNOC also committed to acquiring the remaining 20 percent of Navig8 in mid-2027 for a deferred consideration ranging from $335 million to $450 million.
Navig8, founded in 2007 in Singapore by Gary Brocklesby and Nicholas Busch, is recognized as the world’s largest independent pool operator, managing a vast fleet of vessels across global markets.
The company operates one of the largest shipping pool operations, managing over 85 vessels and completing more than 300 time charters annually.
Navig8 also supplies 5.5 million metric tonnes of bunkers each year and has a presence in 15 cities worldwide.
The integration of Navig8 into ADNOC L&S represents a strategic milestone, enhancing ADNOC’s position as a leading global player in energy maritime logistics.
Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, emphasized that the acquisition would significantly boost ADNOC’s service portfolio by adding commercial pooling and bunkering services.
The deal, he said, will also strengthen ADNOC’s global reach and offer new opportunities for commercial growth, expansion into new markets, and the provision of ESG-focused industrial and digital solutions.
As part of the acquisition, Navig8 will integrate its fleet of 32 tankers into the ADNOC fleet. The company also holds investments in technical management companies and a marine fuels provider operating in over 1,000 ports worldwide.
Navig8 is known for its six pools, which include a range of vessels from MR tankers to VLCCs (Very Large Crude Carriers).
This acquisition follows ADNOC L&S’s 2022 acquisition of Zakher Marine International (ZMI), which enabled ADNOC to add 24 jack-up barges and 38 offshore support vessels to its fleet. As of 2022, ADNOC’s fleet grew to over 300 units, solidifying its position as a global leader in maritime logistics and offshore support services.
ADNOC L&S operates three main units—Integrated Logistics, Shipping, and Services—delivering energy products and services to more than 100 customers across 50 countries.
The acquisition of Navig8 is expected to contribute to ADNOC L&S’s continued growth and strengthen its commitment to providing comprehensive maritime logistics solutions to clients worldwide. END
Source: The Maritime Executive