Navig8 Chemical Tankers Inc, international shipping company focused on the transportation of chemicals, has entered into contracts to acquire 32 modern, fuel-efficient newbuilding chemical tankers.
As of today, 31 of these vessels have been delivered and are in operation, the company said in a press release.
The remaining vessel is scheduled to be delivered in the third quarter of 2017. Upon their respective deliveries, the Company’s vessels have and will be deployed in commercial pools managed by the Navig8 Group, including the Chronos8, Delta8 and Stainless 8 pools.
The Company’s newbuilding fleet is composed of eighteen IMO2 37,000 DWT Interline-coated tankers built at Hyundai Mipo, Korea (A-Class vessels), all of which have been delivered and have been deployed in the Delta8 pool.
Four IMO2 49,000 DWT Interline-coated medium range tankers (T-Class vessels) built at STX Offshore & Shipbuilding Co., Ltd. (STX), have been delivered and have been deployed in the Chronos8 pool.
Two IMO2 49,000 DWT Epoxy-coated medium range tankers built at Hyundai, Vinashin (V-Class vessels). Both V-Class vessels were delivered to the Company on bareboat charters in the first quarter of 2015; the Company purchased one of these vessels in December 2015 and the other in March 2016 pursuant to purchase obligations. The V-Class vessels are currently deployed in the Chronos8 pool.
Six IMO2 25,000 DWT stainless steel tankers built at Kitanihon Shipbuilding Co. Ltd (Kitanihon) and two IMO2 25,000 DWT stainless steel tankers built at Fukuoka (Japan) (together, S-Class vessels). The SClass vessels will be deployed in the Stainless8 pool.
The Company took delivery of its final S-Class vessel built at Kitanihon, Navig8 Sceptrum, in May 2017. The Company took delivery of its first S-Class vessel built at Fukuoka, Navig8 Spica, in May 2017 and expects the final S-Class vessel to be delivered in August 2017. The Navig8 Spica is the first of two vessels to be delivered under the sale and leaseback arrangements entered into with subsidiaries of SBI Holdings, Inc (SBI) announced on May 19, 2017.
