Navig8 Product Tankers Adds New LR1 Ship

Shipping company Navig8 Product Tankers, a joint venture between the Navig8 Group and DVB Bank, has taken delivery of a 74,000 DWT LR1 tanker Navig8 Pride, from South Korean shipbuilder SPP Shipbuilding Co., Ltd.

The Navig8 Pride is the first of four vessels contracted at SPP to be delivered to the company and is the first vessel to be delivered under the sale and leaseback agreements entered into with CMB Financial Leasing, announced on March 17, 2016.

Navig8 Product Tankers said that, following delivery of the Navig8 Pride to CMB Financial Leasing under the terms of the assigned shipbuilding contract, the vessel was then delivered back to the company under bareboat charter.

The Navig8 Pride will be entered into and operated in Navig8 Group’s LR8 commercial pool.

So far, the company has taken delivery of nine LR1 and eight LR2 product tanker newbuildings.

Navig8 expects that its entire newbuilding fleet will be delivered by the end of 2016.

Navig8 Product Tankers maintains an orderbook of long-range (LR), eco-design product tankers, comprising 15 LR2 and 12 LR1 vessels.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2019 >>
MTWTFSS
27 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

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >