GSI Delivers Final Newbuilding to Navig8 Product Tankers

Petroleum products shipping company Navig8 Product Tankers has taken delivery of the Navig8 Gratitude, a 113,000 DWT LR2 tanker from China’s Guangzhou Shipyard International Company Limited (GSI).

The Navig8 Gratitude is the last of eight vessels contracted at GSI, formerly CSSC Offshore & Marine Engineering (Group) Company Limited, to be delivered to the company.

The newbuilding is also the eighth and last vessel to be delivered under the sale and leaseback agreements entered into with CSSC (Hong Kong) Shipping Company Limited (CSSC) announced on June 25, 2015.

Following delivery of the Navig8 Gratitude by GSI to CSSC under the terms of the novated shipbuilding contract, the Navig8 Gratitude was then delivered back to the company under bareboat charter. The Navig8 Gratitude will be entered into and operated in Navig8 Group’s Alpha8 commercial pool, the company informed.

The tanker owner and operator has taken delivery of twelve LR1 and fifteen LR2 product tanker newbuildings to date and has now completed the delivery of its full 27 eco-design product tanker newbuilding fleet.