Navig8 Product Tankers Inc. (the “Company”) (N-OTC: EIGHT), an international shipping company focused on the transportation of petroleum products, today announced that it has taken delivery of the Navig8 Gratitude, a 113,000 DWT LR2 tanker from Guangzhou Shipyard International Company Limited (“GSI”), formerly CSSC Offshore & Marine Engineering (Group) Company Limited.
The Navig8 Gratitude is the last of eight vessels contracted at GSI to be delivered to the Company and is 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.
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