Navig8 Chemical Tankers Inc. (N-OTC: CHEMS), an international shipping company focused on the transportation of chemicals, yesterday announced that it has taken delivery of the Navig8 Spark, a 25,000 DWT stainless steel chemical tanker from Kitanihon Shipbuilding Co., Ltd. (Kitanihon).

NAVIG8 Chemical Tankers Takes Delivery Of Navig8 Spark from Kitanihon Shipbuilding

The Navig8 Spark is the third of six vessels contracted at Kitanihon to be delivered to the Company and is the first vessel to be delivered under the sale and leaseback agreements entered into with SBI Holdings, Inc. (“SBI”) announced on September 15, 2016.

Following delivery from Kitanihon, the Navig8 Spark was delivered to SBI under the terms of the sale MOA and then delivered back to the Company under bareboat charter.

The Navig8 Spark will be entered into and operated in Navig8 Group’s Stainless8 commercial pool.

Source: Navig8 Chemical Tankers