Navig8 to Acquire ECO Chemical Tankers

Navig8 Chemical Tankers Inc. is pleased to announce that it has signed resale purchase agreements with an agribusiness group  to purchase two ECO 49,000 dwt chemical tankers currently under construction at Hyundai Vinashin Shipyard Co. Ltd. that were originally ordered by the Seller. Both Vessels are scheduled for delivery in Q1 2015.

The Company has the option to take delivery of the Vessels upon scheduled delivery from Vinashin or take the Vessels under a bareboat charter from the Seller for up to 12 months after delivery from Vinashin, before taking ownership delivery of the Vessels from the Seller within the 12 months.

Navig8 Chemical Tankers Inc now has a total of thirty two (32) ECO chemical newbuilds under construction in Korea, Japan and Vietnam which are scheduled for delivery during 2015/16/17.