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Navig8 Chemical Tankers cancels five newbuilds at STX

Photo of Grant Rowles Grant RowlesOctober 3, 2016
15 Less than a minute

Navig8 Chemical Tankers has revealed the cancellation of its contracts to build five 49,000 dwt MR tankers at Korea’s STX Offshore & Shipbuilding.

The vessels, which were ordered during the last quarter of 2015, were schedule for delivery during 2017. Navig8 ordered a series of nine ships initially with two already delivered and two imminently scheduled for delivery, Navig8 Tourmaline in October and Navig8 Tanzanite in November.

Navig8 said that all pre-delivery instalments have been refunded by Korea Development Bank, along with interest, as part of the refund guarantee.

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Photo of Grant Rowles Grant RowlesOctober 3, 2016
15 Less than a minute
Photo of Grant Rowles

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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