Navig8 Chemical Tankers Inc. Takes Delivery
OREANDA-NEWS. Navig8 Chemical Tankers Inc. (the "Company") (N-OTC: EIGHT), an international shipping company focused on the transportation of chemicals, today announced that it has taken delivery of the Navig8 Turquoise, a 49,000 DWT IMO2 Interline-coated chemical tanker, from STX Offshore & Shipbuilding Co., Ltd. ("STX"). The Navig8 Turquoise is the first STX vessel to be delivered under the sale and leaseback arrangements entered into with Ocean Yield ASA ("Ocean Yield") announced on April 1, 2015. Following delivery from STX, the Navig8 Turquoise was delivered to Ocean Yield under the terms of the Sale MOA and then delivered back to the Company under bareboat charter.
The Navig8 Turquoise will be entered into and operated in Navig8 Group's Chronos8 commercial pool.
About Navig8 Chemical Tankers Inc.
Navig8 Chemical Tankers Inc. was established in 2013 as a joint venture between the Navig8 Group and Oaktree Capital Management to capitalize on significant structural changes in the petrochemical industry and the continuing development of long-haul chemical trades. Its best-in-class newbuilding fleet is comprised exclusively of large, fuel-efficient vessels with modern eco-designs to take greatest advantage of these shifts. The fully delivered fleet will feature a complementary mix of primarily Interline-coated and stainless steel vessels that are capable of servicing the full range of conventional and specialized chemicals cargoes.
The Company has taken delivery of 21 chemical carriers to date and anticipates delivery of its full 37-vessel fleet by mid-2017. The Company's fleet is contracted to operate in various chemical tanker pools managed by the Navig8 Group, the world's largest independent pool and commercial management company.
Navig8 Chemical Tankers is listed on the Norwegian OTC market under the symbol CHEMS.