Third LR2 Tanker Joins Navig8 Product Tankers

Navig8 Group/Youtube Shipping company Navig8 Product Tankers, part of Navig8 Group, has taken delivery of its third LR2 110,000 dwt product tanker from South Korean shipbuilder Sungdong Shipbuilding & Marine Engineering Co., Ltd. The new vessel, named Navig8 Solace, will be entered into and operated in the Alpha8 commercial pool, managed by the Navig8 Group. The company has so far taken delivery of three LR1 and three LR2 product tanker newbuildings. The companys latest addition was an LR1 74,000 dwt product tanker, the Navig8 Expedite, which joined the fleet last week. Navig8 Product Tankers, established in 2013 as a joint venture between the Navig8 Group and DVB Bank, expects that its entire newbuilding fleet will be delivered by the end of 2016. The company maintains an orderbook of long-range (LR), eco-design product tankers, comprising 15 LR2 and 12 LR1 vessels.