Navig8 Chemical Tankers takes delivery of its first chemical tanker from Kitanihon Shipbuilding
Navig8 Chemical Tankers Inc. (the “Company”) (N-OTC: CHEMS), an international shipping company focused on the transportation of chemicals, today announced that it has taken delivery of the Navig8 Sirius, a 25,000 DWT stainless steel chemical tanker, from Kitanihon Shipbuilding Co., Ltd (“Kitanihon”), the Company said in a press release.
The Navig8 Sirius is the first of six vessels contracted at Kitanihon to be delivered to the Company and is the first vessel to be delivered under the secured loan facility with Credit Suisse AG announced on June 22, 2016.
The Navig8 Sirius will be entered into and operated in Navig8 Group’s Stainless8 commercial pool.
About Navig8 Chemical Tankers Inc.
Navig8 Chemical Tankers Inc. was established in 2013 as a joint venture between the Navig8 Group and funds managed by Oaktree Capital Management L.P. to capitalize on significant structural changes in the petrochemical industry and the continuing development of long-haul chemical trades. Its best-in-class newbuilding fleet is comprised exclusively of large, fuel-efficient vessels with modern eco-designs to take greatest advantage of these shifts. The fully delivered fleet will feature a complementary mix of primarily Interline-coated and stainless steel vessels that are capable of servicing the full range of conventional and specialized chemicals cargoes.
The Company has taken delivery of 22 chemical carriers to date and anticipates full delivery of its fleet by mid-2017. The Company's fleet is contracted to operate in various chemical tanker pools managed by the Navig8 Group, the world's largest independent pool and commercial management company.