Navig8 declares purchase option on Ocean Yield chemical tanker

Navig8 has declared an option to acquire the 2013-built 45,000 dwt chemical tanker Navig8 Constellation, currently on a long-term charter from Norway’s Ocean Yield.

Navig8 had a purchase option on the vessel after five years, and now that it has been declared the effective purchase date is November 15.

The Oslo-listed Ocean Yield said that the price of the option is $18.8m, significantly lower than the tanker’s value of $25.2m according to VesselsValue.

Ocean Yield acquired the South Korean-built vessel from New York-listed tanker owner and operator Navios Maritime Acquisition for $37.3m in 2016.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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