Fourth Newbuilding Joins Navig8 Chemical Tankers

Navig8 Chemical Tankers, a joint venture between the Navig8 Group and Oaktree Capital Management, has taken delivery of its fourth 49,000 dwt chemical tanker from South Korean shipbuilder STX Offshore & Shipbuilding.

Navig8 Tanzanite is the final 49,000 dwt IMO2 Interline-coated tanker in the company’s newbuilding program, as well as the eighth and final vessel to be delivered under the sale and leaseback arrangements entered into with Ocean Yield ASA on April 1, 2015.

Following delivery from STX, the Navig8 Tanzanite was handed over to Ocean Yield under the terms of the sale MOA and then delivered back to the company under a 15-year “hell and high water” bareboat charter.

The Navig8 Tanzanite will be entered into and operated in Navig8 Group’s Chronos8 commercial pool.

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