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>

<< Sep 2017 >>
MTWTFSS
28 29 30 31 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 1

BWMTech North America

Are you operating to international standards? Clarify regulations. Plan BWMS integration…

read more >

NEVA 2017

The diversity of the Conference Programme is well-rounded by a broad spectrum of topics including Commercial Shipbuilding, Offshore and Marine…

read more >

LIQUEFACTION OF BULK CARGOES SEMINAR

GET TO GRIPS WITH:
– Mechanisms behind liquefaction
– Guidelines and regulations for bulk cargoes prone to liquefaction…

read more >

Seatrade Offshore Marine & Workboats Middle East

The largest event for offshore marine and workboat sectors in the region, Seatrade Offshore Marine & Workboats Middle East will, once again, serve as a meeting point for international industry professionals to come together and do business. Our 2017 show promises a wealth of networking opportunities, high-level discussions in our conferences on important industry trends, […]

read more >