Navig8 Growth Strategy Continues

After the latest batch of up to twelve newbuildings to be built at STX, Navig8 Product Tankers Inc. is going to order more long-range-one (LR1) vessels from another South Korean shipbuilder.

Namely, in late February, Navig8 placed a $580 million order at STX Offshore & Shipbuilding Co. Ltd. for the construction of eight plus four 74,000 DWT tankers.

Now, the company is about to order more long-range-one tankers from SPP Shipbuilding Co. Ltd.

The firm contract with SPP is expected to be signed next week. Further details on the contract, like the exact number and price of the ships, will be announced right after the signing of the deal.

[mappress]
WMN Staff, March 14, 2014