Navig8 takes delivery of second tanker from SPP

Navig8 Product Tankers has taken delivery of the ‘Navig8 Providence’, a 74,000DWT LR1 tanker from SPP Shipbuilding.

The ‘Providence’ is the second of four vessels contracted at SPP to be delivered to the company and is the second vessel to be delivered under the sale and leaseback agreements entered into with CMB Financial Leasing (CMBFL) announced on March 17, 2016.

The ‘Providence’ will be entered into and operated in Navig8 Group’s LR8 commercial pool.

Thus far the company has taken delivery of ten LR1 and ten LR2 product tanker newbuildings and anticipates its entire newbuilding fleet to be delivered by the end of 2016.