Pools giant Navig8 confirms VLCC deal and equity raise

Fast-growing pools power Navig8 has confirmed an eight-strong newbuilding entry into the VLCC market capped by a fresh $160m capital raise in Oslo.

Connecticut-based commercial director Jason Klopfer this week acknowledged the broad outlines of Navig8’s latest venture into vessel ownership, which was first reported by TradeWinds on 18 November.

Navig8 raised equity in a private placement on Oslo’s over-the- counter (OTC) market this week to back up the order at two Asian yards, Klopfer says.

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