Navig8 Chemical Tankers receives new vessel from STX Offshore & Shipbuilding


Navig8 Chemical Tankers, a joint venture between the Navig8 Group and funds managed by Oaktree Capital Management, has taken delivery of a new vessel from STX Offshore & Shipbuilding under its new-build programme.

Named Navig8 Tanzanite, the 49,000DWT vessel is an IMO2 interline-coated chemical tanker.

It is the eighth and final vessel to be delivered under the sale and leaseback arrangements with Ocean Yield in April 2015.

"Navig8 Chemical Tankers’ new-building fleet includes large, fuel-efficient vessels with modern eco-friendly designs."

To be operated through Navig8 Group’s Chronos8 commercial pool, the new vessel was already delivered to Ocean Yield under the terms of the sale, before being returned to Navig8 Chemical under a bareboat charter.

In October, Navig8 Chemical Tankers received Navig8 Tourmaline, a chemical tanker with similar specifications, from STX Offshore & Shipbuilding.

During the same month, the company also received two new 25,000DWT stainless-steel chemical tankers from Kitanihon Shipbuilding.

Established in 2013, Navig8 Chemical Tankers’ new-building fleet includes large, fuel-efficient vessels with modern eco-friendly designs.

Once completed, the fleet will transport  cargo to serve the global petrochemical industry.

So far, the company has taken delivery of 28 chemical carriers and expects delivery of its full 32-vessel fleet by 2017.