Navig8 Chemical terminates newbuilding deal with STX
NORWAY-listed Navig8 Chemical Tankers announced that it has canceled newbuilding agreements for five vessels to be manufactured by STX Offshore and Shipbuilding.
According to MANA, The South Korean shipbuilder was scheduled to delivery the five IMO II, 49,000 dwt Interline-coated medium range tankers to Navig8 Chemical by 2017.Navig8 Chemical had signed the newbuilding agreements with STX on October 21, 2015 and December 3, 2015.
It noted that policy lender Korea Development Bank has returned all pre-delivery installments paid to STX for the vessels as per the terms of the refund guarantees.
To date, Navig8 Chemical Tankers has taken delivery of 24 chemical vessels and expects its entire 32-ship fleet to be completed in mid-2017.