EuropeFinance and InsuranceTankers

Navig8 Chemical Tankers banks $74m from sale and leaseback deal

Navig8 Chemical Tankers has announced a sale and leaseback deal with Japan’s SBI Holdings for two 25,000 dwt stainless steel chemical tankers .

SBI, with the help of debt financing from Credit Agricole, is acquiring the pair and chartering them back to Nagig8 for 11-years on bareboat charters with options to re-acquire them included in the deal.

The vessels are currently under construction at Kitanihon Shipbuilding, part of an order for six.

Navig8 said it will net $74m from the deal.

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Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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