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.

Illustration; Source: Unsplash/Shaah Shahidh

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.