Navig8 Chemical Tankers seals double sale and leaseback with AVIC

Navig8 Chemical Tankers seals double sale and leaseback with AVIC

Navig8 Chemical Tankers has sold two 37,000 dwt product tankers to China’s AVIC International Leasing and will charter them back on 10-year charters.

Navig8 will pocket $52.4m from the transaction and has repaid existing loans used to finance the vessels.

The bareboat charters for the vessels include options to re-acquire the vessels from two years onwards and an obligation to re-acquire them at the end of the charter.

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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