Navig8 Product Tankers Inc. Takes Delivery of its Third Newbuilding Product Tanker from SPP Shipbuilding

By Vessels

Navig8 Product Tankers Inc. (N‐OTC: EIGHT), an international shipping company focused on the transportation of petroleum products, Thursday (Oct 6) announced that it has taken delivery of the Navig8 Precision a 74,000 DWT LR1 tanker from SPP Shipbuilding Co., Ltd (SPP).

Navig8 Product Tankers Inc. Takes Delivery of its Third Newbuilding Product Tanker from SPP Shipbuilding

Image: Product tanker Navig8 Precision at SPP Tongyeong facility - Photo courtesy: lappino/shipspotting

The Navig8 Precision is the third of four vessels contracted at SPP to be delivered to the Company and is the first vessel to be delivered under the secured loan facility entered into with ABN AMRO BANK N.V.,Singapore Branch announced on July 19, 2016.

The Navig8 Precision will be entered into and operated in Navig8 Group’s LR8 commercial pool.

The Company has taken delivery of eleven LR1 and ten LR2 product tanker newbuildings to date and anticipates delivery of its full 27 eco‐design product tanker newbuilding fleet by the end of 2016.

Source: Navig8 Product Tankers