Navig8 Orders One More Chemical Tanker

Navig8 Oslo-listed chemical tanker owner and operator Navig8 Chemical Tankers has exercised an option to acquire a 49,000 DWT IMO2 eco-design, Interline-coated chemical tanker from South Koreas STX Offshore & Shipbuilding. The newbuilding contract is part of the previously secured deal with STX in October, under which the company has further options to purchase five additional sister vessels from the shipbuilder. The company said that the chemical tanker will be built to the same technical specifications as their preexisting orders with STX, including the capability to transport methanol and other specialty cargoes. The new vessel is expected to be delivered by mid-2017 and then deployed in the Chronos8 pool, managed by the Navig8 Group. Navig8 Chemical Tankers, which was established in 2013 as a joint venture between the Navig8 Group and Oaktree Capital Management, operates a fleet of over 90 chemical tankers.