Navig8 Chemical Tankers Inc., an international shipping company focused on the transportation of chemicals, with numerous locations throughout the USA, has announced that it has entered into sale and leaseback agreements with CMB Financial Leasing Co. Ltd. for two of the companys 25,000 DWT stainless steel chemical tankers (being Navig8 Saiph and Navig8 Sceptrum).
The expected net proceeds from the transaction will be USD $66,849,440. Under the sale and leaseback agreements, the vessels will be sold and delivered to CMB. Navig8 has entered into 7-year bareboat charters with CMB for the vessels.