Navig8 Chemical Tankers Takes First Fukuoka Newbuild

Navig8 Chemical Tankers has taken delivery of the Navig8 Spica, a 25,000 dwt stainless steel chemical tanker, from Fukuoka Shipbuilding in Japan.

The Navig8 Spica is the first of two vessels contracted at Fukuoka to be delivered to the company and is the first of two vessels to be delivered under the sale and leaseback arrangements entered into with subsidiaries of SBI Holdings, Inc (SBI) earlier this month.

Following delivery from Fukuoka, the Navig8 Spica was delivered to SBI under the terms of the sale MOA and then delivered back to the company under bareboat charter.

Navig8 Chemical Tankers secured ten-and-a-half year bareboat charters for Navig8 Spica and its sister vessel, commencing at the time of their deliveries.

The Navig8 Spica will be entered into and operated in Navig8 Group’s Stainless8 commercial pool.

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