Navig8 Chemical Tankers Takes Two More Newbuilds

A chemical tanker fleet operator Navig8 Chemical Tankers has taken delivery of two more ECO 37,000 dwt chemical tankers constructed at Korea’s Hyundai Mipo Dockyard (HMD).

The 42,000 cbm Navig8 Ametrine and Navig8 Aventurine are the fourth and the fifth out of eighteen chemical tankers ordered at HMD.

Navig8 Chemical Tankers has also recently closed a private placement of shares for gross proceeds of USD 65 million.

A total of 5,701,754 new common shares at a subscription price of USD 11.40 per share have been issued in conjunction with the completed private placement. The company now has a total of 38,489,108 shares in issue.

The proceeds of this private placement will be used to part-finance the equity portion related to the company’s remaining newbuilding programme, as well as general corporate purposes including working capital costs.

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