Navig8 Product Tankers Takes Delivery of 4th and Final 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, Friday announced that it has taken delivery of the Navig8 Prestige a 74,000 DWT LR1 tanker from SPP Shipbuilding Co., Ltd (SPP).

Navig8 Product Tankers Takes Delivery of 4th and Final Newbuilding Product Tanker From SPP Shipbuilding

The Navig8 Prestige is the last of four vessels contracted at SPP to be delivered to the Company and is the second and last 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 Prestige will be entered into and operated in Navig8 Group’s LR8 commercial pool.

The Company has taken delivery of twelve LR1 and eleven LR2 product tanker newbuildings to date and anticipates delivery of its full 27 eco‐design product tanker newbuilding fleet by the end of 2016. The Company’s fleet is contracted to operate in various product tanker pools managed by the Navig8 Group, the world’s largest independent pool and commercial management company.

Source: Navig8