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Navig8 raises capital for newbuildings

Tanker carrier Navig8 Product Tankers Inc. has secured financing from various investors for its comprehensive newbuilding program.

Photo: Navig8

Navig8 Product Tankers, a subsidiary of Navig8, ordered twelve product tanker newbuildings earlier this year and now the carrier has secured financing for 65 percent of eight of the newbuildings through loans from an assortment of banks, says the company in a press release.

The ships concerned are LR2 vessels and will be built at a Chinese and a Korean shipyard.

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