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Korea Republic of,Norway : Navig8 received delivery of Navig8 Sanctity, a 110,000 DWT LR2 tanker, from Sungdong.

An international shipping company, Navig8 Product Tankers Inc. focused on the transportation of petroleum products, has received delivery of the Navig8 Sanctity, a 110,000 DWT LR2 tanker, from Sungdong Shipbuilding & Marine Engineering Co., Ltd. (Sungdong).

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

After the 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 Alpha8 commercial pool of Navig8 Group.

Till date, the Company has received delivery of five LR1 and five LR2 product tanker newbuildings and anticipates delivery of its entire newbuilding fleet by the end of 2016.

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Publication:Mena Report
Date:Mar 25, 2016
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