Navig8 sells four ships to Chinese bank in leasing agreement

Navig8 Chemical Tankers sells four ships to state-owned Chinese bank ICBC. The transaction is a leasing agreement in which the company will lease the ships from the bank and is obligated to buy them back when their contracts expire.

Photo: Navig8

Navig8 Chemical Tankers has decided to sell four ships to state-owned ICBC, says the company in a press release.

The transaction is a sale and leaseback agreement in which Navig8 Chemical Tankers leases the four ships from the bank and is obligated to buy them back when the contracts expire.

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