Navig8 Chemical exercises option for another chemical tanker

Navig8 Chemical has exercised its contractual option to order another 49,000-dwt IMO II chemical tanker from STX Offshore & Shipbuilding, South Korea.

The owner ordered four firm vessels of this specification in October this year, all of which are set for delivery in mid-2017.

Like its sisterships, the additional vessel will be built to a fuel-efficient design and its cargo tanks coated with Interline epoxy phenolic coating, enabling the tankers to carry methanol as well as chemicals and products.

The new vessel is expected to be delivered by mid-2017, when it will be deployed with the four other newbuildings in the Chronos8 pool, which is managed by the Navig8 Group.

“Our best-in-class chemical tanker fleet of 36 large, fuel-efficient vessels is designed to benefit from the continuing shift to long-haul chemical trades driven by significant investment in US and Middle East chemical export projects,” Nicolas Busch, president and CEO of Navig8 Chemical Tankers, said in October.

The company has options remaining for five additional vessels from the shipyard.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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