Navig8 Chemical Tankers Lifts Option for Chemical Tanker

UK-based Navig8 Chemical Tankers Inc. has declared the option to purchase the 2015-built chemical tanker Navig8 Aquamarine, Oslo-listed shipowner Ocean Yield said.

Following the delivery of the 37,000 dwt IMO II chemical tanker to Ocean Yield from its Korean shipbuilder Hyundai Mipo Dockyard in June 2015, the vessel started a 15 years “hell and high water” bareboat charter with Navig8 Chemical Tankers Inc.

The ship forms part of a series of total eight chemical carriers that were chartered to Navig8 Chemical Tankers Inc.

The effective purchase date is 25th June 2020 with a price of USD 26.5 million.

Navig8 Chemical Tankers Inc. was established in 2013 as a joint venture between Navig8 Group and funds managed by Oaktree Capital Management to capitalize on significant structural changes in the petrochemical industry and the continuing development of long-haul chemical trades.

It has a fleet of 32 large, fuel-efficient vessels, according to the company’s website.