Search results for: Navig8 Product Tankers

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  • 11 January 2016
    Business & Finance

    Navig8 Product Tankers Inc has entered into an amended loan facility for USD 128.5 million with Credit Agricole Corporate and Investment Bank (CACIB) and BNP Paribas to provide additional financing for LR1 74,000 DWT product tankers being built at STX Offshore & Shipbuilding Co. Ltd. The initial USD 64.3 million loan facility with CACIB, which was […]

  • 19 May 2017
    Business & Finance

    Petroleum products shipping company Navig8 Product Tankers has taken delivery of the Navig8 Gratitude, a 113,000 DWT LR2 tanker from China’s Guangzhou Shipyard International Company Limited (GSI). The Navig8 Gratitude is the last of eight vessels contracted at GSI, formerly CSSC Offshore & Marine Engineering (Group) Company Limited, to be delivered to the company. The […]

  • 16 May 2017
    Business & Finance

    Although product tanker rates started to recover in the first quarter of the year, Norway-based Navig8 Product Tankers ended the quarter with a net loss of USD 1.2 million, against a net income of USD 5.7 million seen a year earlier. Despite the result, the company’s revenue for the period increased to USD 38.3 million from USD 22.9 million, […]

  • 13 February 2017
    Business & Finance

    Norway-based petroleum products shipping company Navig8 Product Tankers reported a full-year net loss of USD 5.2 million, a decrease of USD 31.8 million from a net income of USD 26.7 million seen in 2015.  Total operating revenue for the twelve-month period of 2016 amounted to USD 108.2 million, against 38.2 million recorded in the previous year. […]

  • 7 January 2016
    Business & Finance

    Newly-established product tanker company Navig8 Product Tankers Inc said that it has taken delivery of two newly constructed product tankers. One LR2 115,000dwt product tanker, named Navig8 Stability was delivered by Korean builder Sungdong Shipbuilding & Marine Engineering Co, Ltd. The second vessel is an LR1 74,000dwt product tanker, named Navig8 Excelsior, which was also […]

  • 16 June 2017
    Business & Finance

    Monaco-based tanker owner Scorpio Tankers has completed the acquisition of four LR1 tankers from Navig8 Product Tankers. Scorpio Tankers purchased the quartet for USD 42.2 million in cash consideration and assumed debt of USD 113.8 million. The move is part of definitive agreements to merge, signed between the shipowners in late May. The cash is expected […]

  • 24 January 2017
    Business & Finance

    The seventh newbuilding product tanker has been delivered to the shipping firm Navig8 Product Tankers from Chinese shipbuilder Guangzhou Shipyard International Company Limited. Featuring 113,000 dwt, the LR2 tanker Navig8 Gladiator was ordered as part of a batch of eight ships from the former CSSC Offshore & Marine Engineering (Group) Company Limited, now GSI. With 128,000 cbm, the new ship is […]

  • 13 July 2015
    Business & Finance

    Oslo-based shipowning company Ocean Yield ASA has agreed to acquire four newbuilding 115,000 dwt LR2 product tankers for a total consideration of USD 198.1 million, in combination with 13 years “hell and high water” bareboat charters to Navig8 Product Tankers Inc. The four vessels are being built at Sungdong Shipbuilding & Marine Engineering Co., Ltd, […]

  • 5 August 2016
    Business & Finance

    Shipping company Navig8 Product Tankers, a joint venture between the Navig8 Group and DVB Bank, has entered into sale and leaseback agreements for three of its 109,999 dwt product LR2 tankers. Signed with Bank of Communications Finance Leasing Co Ltd. (BoComm), the deals would result in net proceeds of up to USD 118.8 million. Navig8 Product Tankers intends to use a […]

  • 13 July 2015
    Business & Finance

    Oslo-based shipowning company Ocean Yield ASA has agreed to acquire four newbuilding 115,000 dwt LR2 product tankers for a total consideration of USD 198.1 million, in combination with 13 years “hell and high water” bareboat charters to Navig8 Product Tankers Inc. The four vessels are being built at Sungdong Shipbuilding & Marine Engineering Co., Ltd, […]

  • 15 January 2016
    Business & Finance

    Newly-established product tanker company Navig8 Product Tankers Inc has taken delivery of an LR1 74,000 dwt product tanker, the Navig8 Expedite, from the South Korean shipbuilder STX Offshore & Shipbuilding Co, Ltd. The vessel will be entered into and operated in the LR8 commercial pool operated by the Navig8 Group. As World Maritime News reported, Navig8 Product Tankers has […]

  • 16 November 2016
    Business & Finance

    Petroleum products shipping company Navig8 Product Tankers Inc. is looking to raise up to USD 30 million as it launched an offer of 3 million units each consisting of one Series A preference share and 2.344 common shares. The net proceeds from the offering would be used for general corporate purposes, including working capital and transaction […]

  • 30 August 2017
    Business & Finance

    The previously announced merger between Marshall Islands-incorporated tanker owner and operator Navig8 Product Tankers Inc. (NPTI) and Scorpio Tankers has moved a step forward as it has secured approval from NPTI’s shareholders on Tuesday, August 29. “At the meeting, approximately 94.25% of the NPTI shares outstanding were voted, all of which were voted in favor […]

  • 24 May 2017
    Business & Finance

    Monaco-based tanker owner Scorpio Tankers revealed it has entered into definitive agreements to merge with Marshall Islands-incorporated petroleum products shipping company Navig8 Product Tankers and acquire Navig8’s 27 operating vessels. Under the agreements, Scorpio will acquire four LR1 tankers prior to the closing of the merger. The remaining 23 ships will be acquired upon the closing […]

  • 25 April 2016
    Business & Finance

    Shipping company Navig8 Product Tankers Inc. has entered into a USD 130.3 million senior secured credit facility agreement for post-delivery financing for four 74,000 DWT LR1 product tankers. The loan, entered into with Citibank N.A., London Branch and Caixabank, S.A., is for vessels which were either constructed or are currently under construction at South Korea’s STX Offshore […]

  • 1 November 2016
    Business & Finance

    Shipping company Navig8 Product Tankers has reported a net loss of USD 5.8 million in the third quarter of the year, against a net income of USD 17.8 million seen a year earlier, amid weak product tanker markets. “Product tanker markets exhibited weakness in the third quarter due to high inventory levels and decreased refinery […]

  • 20 January 2016
    Business & Finance

    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 […]

  • 9 August 2016
    Business & Finance

    Norwegian ship owner Ocean Yield ASA has taken delivery of a 115,000 dwt LR2 product tanker Navig8 Supreme from South Korea’s Sungdong shipyard. After being delivered from the shipyard today, the vessel commenced a 13-year “hell and high water” bareboat charter to Navig8 Product Tankers Inc. This is the final vessel delivered in a series of a total of four […]

  • 23 May 2016
    Business & Finance

    Navig8 Product Tankers Inc has taken delivery of the Navig8 Grace, a 113,000 DWT LR2 tanker from China-based CSSC Offshore & Marine Engineering Company Limited, formerly known as Guangzhou Shipyard International Company. The Navig8 Grace is the first of eight vessels contracted at CSSC Offshore to be delivered to the company and is the first […]

  • 28 November 2016
    Business & Finance

    Petroleum products shipping company Navig8 Product Tankers Inc. has taken delivery of a 74,000 dwt LR1 tanker, the Navig8 Prestige, from South Korean shipbuilder SPP Shipbuilding. Navig8 Prestige is the last of four vessels contracted at SPP to be delivered to the company. The tanker will be entered into and operated in Navig8 Group’s LR8 […]

  • 17 August 2016
    Business & Finance

    Shipping company Navig8 Product Tankers has taken delivery of the 74,000 dwt LR1 tanker Navig8 Providence from South Korean shipbuilder SPP Shipbuilding. The Navig8 Providence is the second of four vessels contracted at SPP to be delivered to the company and is the second vessel to be delivered under the sale and leaseback agreements entered […]

  • 10 January 2017

    Petroleum products shipping specialist Navig8 Product Tankers has taken delivery of the Navig8 Gauntlet, a 113,000 DWT LR2 tanker from China’s Guangzhou Shipyard International Company Limited (GSI). The Navig8 Gauntlet is the sixth of eight vessels contracted at GSI to be delivered to the company and is the sixth vessel to be delivered under the sale […]