Navig8’s mega-deal with Adnoc Logistics & Services was the talk of the town as Posidonia got into full swing on Monday.

Shipowners, brokers, bankers and investors digested the $1.5bn deal, adding an extra spark to the event already awash with confidence backed by years of strong markets.

At receptions hosted by Morgan Stanley, Poten & Partners, DNV, Seanergy, Technomar, Braemar and Navios among others, the Navig8 sale was not the only transaction people were talking about.

Chat alternated between business and pleasure as old friends gossiped and new connections were made.

In a market where capital seems to outweigh available deals, the biggest challenge for owners with cash burning a hole in their pocket is, as one put it, “not do anything stupid”.