Working Conditions Aboard the Chem-Sceptrum

Navig8 Chemical Tankers Inc., a prominent player in the international maritime sector specializing in chemical transportation, has made headlines by securing a sale and leaseback arrangement with CMB Financial Leasing Co. Ltd. for two of its state-of-the-art 25,000 DWT Stainless Steel Chemical Tankers, namely Navig8 Saiph and Navig8 Sceptrum. This strategic move is expected to yield significant net proceeds of approximately $66,849,440. The funds generated from this transaction are earmarked for repaying existing loans that were utilized to finance the Vessels’ newbuilding contracts, a process initiated under the bank loan facility disclosed on November 3, 2016. This agreement marks a vital step in Navig8's ongoing commitment to optimizing its financial structure and enhancing operational flexibility.