A part of Watch Media

ShippingWatchTuesday7 February 2023

  • Search
  • Log in
  • Carriers
  • Logistics
  • Regulation
  • Suppliers
  • Search
  • Log in
  • Latest
  • Search
  • Log in
  • Carriers
  • Logistics
  • Regulation
  • Suppliers
  • Offshore
  • Ports
13/07/2015at 08:42

Navig8 generates USD 500 million in newbuilding sales

The tanker carrier Navig8 Product Tankers Inc. is divesting newbuildings with an agreement to lease back the vessels. The deal will generate millions of dollars for the Oslo-listed carrier, according to several media.
Photo: Navig8
Photo: Navig8
BY LOUISE VOGDRUP-SCHMIDT

Navig8 Product Tankers Inc. has opted to divest eight of its LR2 newbuildings to the Chinese shipping company CSSC in a so-called "sale and lease back" deal. This means, that the carrier will divest the vessels but charter them afterwards. The advantage is that the carrier no longer owns the ships as assets, but can still operate them.

Already a subscriber?Log in here

Read the whole article

Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
!
!
Must contain at least 6 characters

Get full access for you and your coworkers

Start a free company trial today

Related articles:

  • Photo: Navig8

    Navig8 raises capital for newbuildings

    For subscribers

  • Photo: Colourbox

    Gener8 Maritime headed for New York IPO

    For subscribers

  • Analysts: Potential IPO for Hafnia Tankers in 2015

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

!
Newsletter terms

Front page now

Maersk CEO Vincent Clerc (left) and MSC CEO Søren Toft are following very different strategic directions. | Foto: Jacob Gronholt-pedersen/reuters/ritzau Scanpix og Jason Decrow/ap/ritzau Scanpix
Container

Maersk could be heading for a price war with MSC

After a profit of historic proportions in 2022, Maersk is facing a new reality this year, entailing a potential price war unleashed by the carrier’s partner in the disbanded 2M alliance, MSC, predicts Drewry.
  • Opinion: Maersk and MSC heading for direct confrontation over customers
  • Drewry director eyes one central weakness in Maersk's strategy

For subscribers

Krisen på fragtmarkedet styrker DSV's position i forhold til rederierne: ”I og med at vi er en af de store aftagere af søfragt, har vi også et samarbejde med rederierne, som er strategisk og forankret i direktionen,” siger DSV's topchef, Jens Bjørn Andersen. | Foto: Lars Krabbe/Foto: Lars Krabbe/Ritzau Scanpix
Logistics

DSV to support box carriers that provided help during Covid chaos

For subscribers

Foto: Rebecca Naden
Tanker

Countdown to clash over Euronav's board composition has begun

For subscribers

Maersk is heading for its second record profit, setting a new benchmark in Danish business history. | Foto: Jonas Walzberg/AP/Ritzau Scanpix
Container

Maersk on track to achieve record profit for second consecutive year

For subscribers

Foto: Sund & Bælt
Offshore

Danish authorities suspending 23GW of offshore wind projects

For subscribers

Foto: Casper Dalhoff / Ritzau Scanpix
Container

Maersk redirects traffic following earthquake

For subscribers

Further reading

Maersk CEO Vincent Clerc (left) and MSC CEO Søren Toft are following very different strategic directions. | Foto: Jacob Gronholt-pedersen/reuters/ritzau Scanpix og Jason Decrow/ap/ritzau Scanpix
Container

Maersk could be heading for a price war with MSC

After a profit of historic proportions in 2022, Maersk is facing a new reality this year, entailing a potential price war unleashed by the carrier’s partner in the disbanded 2M alliance, MSC, predicts Drewry.

For subscribers

Foto: Magnus Møller
Featured

Eitzen son wants to electrify shipping as new CEO of Christiania Shipping

New Christiania Shipping CEO Fridtjof C. Eitzen maintains that acquisitions are on hold after a record year. The 36-year-old marine engineer, fifth generation in the Eitzen dynasty, wants to electrify shipping.

For subscribers

Krisen på fragtmarkedet styrker DSV's position i forhold til rederierne: ”I og med at vi er en af de store aftagere af søfragt, har vi også et samarbejde med rederierne, som er strategisk og forankret i direktionen,” siger DSV's topchef, Jens Bjørn Andersen. | Foto: Lars Krabbe/Foto: Lars Krabbe/Ritzau Scanpix
Logistics

DSV to support box carriers that provided help during Covid chaos

DSV customers found themselves in a bind when box carriers were able to allot limited ship space as they saw fit during the pandemic. Now the balance has shifted.

For subscribers

Jobs

  • Fleet Manager

  • Copenhagen Shipping Company is hiring a skilled cargo broker

  • Head of P2X Marketing and Sales (m/f/d)

  • Vessel Manager Marine and QA

  • Commercial Contract Manager for the Offshore Wind Industry

  • Foundation Package Manager - Offshore wind industry

  • Senior Financial Controller

  • Ambitious employee for Shipping office wanted

  • Chartering Manager for Lauritzen Bulkers A/S

See all jobs

Latest news

  • DSV to support box carriers that provided help during Covid chaos – 15:56
  • More tankers embark on illicit sailings following embargo on Russian oil – 15:33
  • Monjasa to provide green ammonia through new collaboration – 15:27
  • Countdown to clash over Euronav's board composition has begun – 15:17
  • New major port project underway in the Baltic Sea region – 15:05
  • Bank DNB sees box market reach record lows in coming years – 14:24
  • Maersk on track to achieve record profit for second consecutive year – 13:32
  • Maersk could be heading for a price war with MSC – 12:53
  • Oil prices extend gains following earthquake and Chinese demand rebound – 10:25
  • Maersk redirects traffic following earthquake – 08:52
See all

Jobs

  • Fleet Manager

  • Copenhagen Shipping Company is hiring a skilled cargo broker

  • Head of P2X Marketing and Sales (m/f/d)

  • Vessel Manager Marine and QA

  • Commercial Contract Manager for the Offshore Wind Industry

  • Foundation Package Manager - Offshore wind industry

  • Senior Financial Controller

  • Ambitious employee for Shipping office wanted

  • Chartering Manager for Lauritzen Bulkers A/S

See all jobs

Colophon

ShippingWatch
Search

Sections

  • Carriers
  • Logistics
  • Regulation
  • Suppliers
  • Offshore
  • Ports
  • Sitemap
  • RSS feeds

Editor

Tomas Kristiansen

tk@shippingwatch.dk

Tel.: +45 3330 8360

  • About ShippingWatch

Editor-in-chief

Anders Heering

Publisher

JP/Politiken Media Group Ltd

Advertising

annoncering@infowatch.dk

Tel.: +45 7077 7445

Advertising

Job Advertising

job@infowatch.dk

Tel.: +45 7077 7445

Jobs

Subscription

Try ShippingWatch or get an offer for a subscription meeting the exact needs of you or your company.

shippingwatch@infowatch.dk

Tel.: +45 7077 7445

Learn more about subscriptions here

Address

ShippingWatch

Rådhuspladsen 37

1785 Copenhagen K, Denmark

Tel.: +45 3330 8360

Guidelines

  • Privacy Policy

Copyright © ShippingWatch — All rights reserved

Microsoft is in the process of discontinuing Internet Explorer – and so are we.
For a better experience, we recommend using one of the following browsers.

Kind regards,
ShippingWatch

Google ChromeMozilla FirefoxMicrosoft Edge