Navig8 Product Tankers Inc., an international shipping company focused on the transportation of petroleum products, today announced that it has taken delivery of the Navig8 Sanctity, a 110,000 DWT LR2 tanker, from Sungdong Shipbuilding & Marine Engineering Co., Ltd. (“Sungdong”).

Navig8 Takes Delivery of its Fifth 110,000 DWT LR2 Product Tanker - Navig8 Sanctity

Crude oil tanker Navig8 Sanctity Image: lappino/shipspotting

The Navig8 Sanctity is the second vessel to be delivered under the sale and leaseback arrangements entered into with Ocean Yield ASA (“Ocean Yield”) announced on July 13, 2015.

Following delivery from Sungdong, the Navig8 Sanctity was delivered to Ocean Yield under the terms of the Sale MOA and then delivered back to the Company under bareboat charter.

The Navig8 Sanctity will be entered into and operated in Navig8 Group’s Alpha8 commercial pool.

Source: Navig8