Navig8 Chemical Tankers Inks Sale and Leaseback Deals for Vessel Trio

Image Courtesy: Navig8 Chemical Tankers

Chemical shipping company Navig8 Chemical Tankers Inc. has signed sale and leaseback agreements with CMB Financial Leasing Co. Ltd. (CMB) for three of its IMO2 37,000 dwt Interline coated tankers.

The company said that the expected net proceeds from the transaction are USD 91.2 million.

“A portion of the proceeds will be utilized to repay existing loans used to finance the vessels’ newbuilding contracts under the multi-bank loan facility announced by the company on February 3, 2015,” Navig8 Chemical Tankers added.

Under the sale and leaseback agreements, the vessels will be sold and delivered to CMB.

Additionally, Navig8 Chemical Tankers has signed 7-year bareboat charters with CMB for the tankers. The shipping firm has purchacse options to re-acquire the vessels during the charter period, with the first such option exercisable on the third anniversary of each vessel delivery, and obligations to repurchase the tankers at the end of the bareboat period.

Navig8 Chemical Tankers has taken delivery of 21 chemical carriers to date and anticipates full delivery of its fleet by mid-2017.

The fleet is contracted to operate in various chemical tanker pools managed by the Navig8 Group.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jul 2017 >>
MTWTFSS
26 27 28 29 30 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 1 2 3 4 5 6

Global Liner Shipping Asia Conference

Fight. Survive. Thrive. Respond to challenges of consolidation & disruption at the largest gathering of container shipping industry in Asia…

read more >

Bunkering Week 2017

IBC’s biennial Bunkering Week is back with its successful series of 3 co-located events: 8th Bunkering in Asia, 4th LNG Bunkering and EMTECH: Ship Emissions Technology Conference. With a proven track record of bringing together top decision makers from various industry sectors, this remains the go to event for ship owners, fuel suppliers, traders and […]

read more >

Indonesia Marine & Offshore Expo (IMOX) 2017

Indonesia Marine & Offshore Expo (IMOX) 2017, Batamis an international maritime and offshore industrial event that brings an international…

read more >

Salvage & Wreck Asia

Could your business be affected by shipwreck? Are you a salvage professional or a wreck removal expert? …

read more >