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.