Navig8 Acquires Two Newbuildings

 Navig8 Product Tankers Inc., today announced that it has taken delivery of two further product tankers from its newbuilding program – the Navig8 Symphony, a 110,000 DWT LR2 tanker from Sungdong Shipbuilding & Marine Engineering Co., Ltd. and the Navig8 Exceed, a 74,000 DWT LR1 tanker from STX Offshore & Shipbuilding Co., Ltd.

The Navig8 Symphony and the Navig8 Exceed will operate in Navig8 Group’s Alpha8 and LR8 commercial pools respectively.

Thus far the Company has taken delivery of four LR1 and four LR2 product tanker newbuildings and anticipates that its entire newbuilding fleet will be delivered by the end of 2016.

Navig8 Product Tankers maintains an orderbook of long-range (LR), eco-design product tankers, comprising 15 LR2 and 12 LR1 vessels. The company’s fleet is contracted to operate in various product tanker pools managed by the Navig8 Group, the world’s largest independent pool and commercial management company.