Bermuda-based pools giant Navig8 Group is now operating all nine of Latsco Shipping’s modern MR tankers.
The company said the Greek owner’s 50,000-dwt MR2 Hellas Margarita (built 2017) has joined the Eco MR Pool this month.
Latsco already has its eight other eco vessels operating in the pool.
Two other older Latsco MRs are operated by Glencore’s ST Shipping.
In September, Navig8 added Latsco’s 50,000-dwt MRs Hellas Avatar (built 2015) and Hellas Revenger (built 2016) to the pool, which now stands at 11 vessels.
The Avatar was previously on an 18-month charter to Gunvor’s Clearlake at $13,750 per day from January 2021, while the Revenger had been fixed for a year by the same company from February last year at $14,500 per day.
The pools group said at the time: “Latsco’s additions follow a successful 10-month relationship between Navig8 and the product tanker, gas and VLCC owner, who first came on board in December 2021.”
Navig8 operates five more older MRs in the regular MR pool.
Last month, the company revealed a 5% stake in New York-listed crude and product tanker owner International Seaways.
Navig8 was following in the footsteps of shipping tycoons John Fredriksen and Idan Ofer, whose 5.05% stake was unveiled in the same week.
Purely an investment?
The Navig8 stake was described as “for investment purposes”.
But Ofer and Navig8 have both had business ties with Fredriksen.
Last year, fellow billionaires Fredriksen and Ofer bought into Norwegian wind farm vessel operator Edda Wind, owned by Ostensjo Rederi and Wilhelmsen Group.
And Fredriksen also has a history as a financial backer of Navig8, market sources told TradeWinds. The two groups have been partners in Navig8’s V8 tanker pool.
