Navig8 Acquires Seventh LR2 from Guangzhou Shipyard

Navig8 Product Tankers Inc. today announced that it has taken delivery of the Navig8 Gladiator, a 113,000 DWT LR2 tanker from Guangzhou Shipyard International Company Limited (“GSI”), formerly CSSC Offshore & Marine Engineering (Group) Company Limited.

The Navig8 Gladiator is the seventh of eight vessels contracted at GSI to be delivered to the Company and is the seventh 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 from GSI, the Navig8 Gladiator was delivered to CSSC under the terms of the Sale MOA and then delivered back to the Company under bareboat charter.

The Navig8 Gladiator will be entered into and operated in Navig8 Group’s Alpha8 commercial pool.