2007

FR8 to NAVIG8

FR8 was established in 2003 as a joint venture with Projector Ltd, a prominent oil trader, who provided a core volume of cargos and access to attractive time charter opportunities. FR8 is not your father’s shipping company. With its owned fleet, time chartered fleet and management companies, it resembles a normal shipping company except for the fact that its brain is wired and its perspective is that of a trader. In short, this is the world of seeking arbitrage opportunities, while managing risk and not just looking at “last done.”

The company controls a fleet of approximately 30 product tankers via a combination of time charters, joint ventures, ownership and commercial agreements. Of the controlled fleet, the company together with its joint venture partners own two LR product tankers and eleven MR tankers (including the orderbook) and have purchase options on three more vessels.

This is only an excerpt of Company News – 03/15/2007

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