Navig8 Product Tankers has taken delivery of a 110,000DWT LR2 product tanker, the ‘Navig8 Supreme’, from Sungdong Shipbuilding and Marine Engineering.
The ‘Supreme’ is the fourth vessel to be delivered under the sale and leaseback arrangements entered into with Ocean Yield, announced on July 13, 2015.
Following the delivery from Sungdong, the ‘Supreme’ was delivered to Ocean Yield then delivered back to the Navig8 Product Tankers under bareboat charter. The ‘Supreme’ is the last of seven vessels ordered at Sungdong to be delivered to the company.
The vessel will be entered into and operated in the Alpha8 commercial pool operated by the Navig8 Group.
Thus far the company has taken delivery of nine LR1 and nine LR2 product tanker newbuildings and anticipates that the remainder of its newbuild fleet will be delivered by the end of 2016.