Fleet of Navig8
The world’s leading independent pool and commercial management services provider, the Navig8 Group boasts the most diverse trading fleet, from clean and dirty tankers, to chemical tankers and dry bulk. With an unrivalled fleet size, the versatile company merges this strength with leading commercial and operational teams with extensive market knowledge and a customer-orientated, flexible approach to business. Believing customer relationships are at the core of its operations and ongoing success, the group focuses on reliability and responsiveness throughout projects. It has also accumulated a powerful network of charterer relationships and works with leading players daily. In addition, the group has the broadest pool member base, which has grown from one to 58 members since inception and encompasses partners from 18 different countries around the world.
With 13 offices located across the world, Navig8 is able to provide close customer support on a 24/7 basis. Moreover, by being local, the group is in closer proximity to its customers and regional markets. Meanwhile, by operating globally, the group is also able to assess wide trends and maximise on arbitrage opportunities when they arise.
To ensure it delivers a comprehensive, high quality service to its customers in all of the sectors it serves, the group has divided its operations into separate business lines; these include Navig8 Tankers, Navig8 Bulk, Integr8 Fuels, Navig8 Chemicals, & Navig8 Ship Management.
The Group also leverages the information flow generated through its commercial management activities as well as its in-house research team to identify key inflexion points in the shipping market. The Group formed Navig8 Product Tankers, Navig8 Crude Tankers and Navig8 Chemical Tankers (separate and distinct asset owning companies) in order to take advantage of favourable acquisition opportunities during a low point the shipping market cycle.
Navig8 Chemical Tankers Inc. was formed in 2013 as a joint venture between the Navig8 Group and Oaktree Capital Management to capitalise on significant structural changes in the petrochemical industry and the continuing development of long-haul chemical trades.
Navig8 Chemical Tankers has put in place a cost-effective operating structure that it anticipates will enable it to grow the fleet efficiently over time while also managing any operating expense. To do this, the company has entered into a series of contracts for the provision of commercial, corporate and technical administrative services by affiliates of the Navig8 Group; all of whom have the expertise to allow them to deliver reliable and safe operations under close supervision. By entering into and maintaining such agreements, the division believes services will be obtained in a transparent and cost-effective manner.
Also within its strategy is a focus on optimising the employment of its fleet by deploying vessels in the spot-market orientated commercial pools of its commercial manager. The division anticipates that, by operating within commercial pools, it can improve its TCE rates through increased vessel utilization and thus earnings. The final part of the company’s strategy is to operate a modern, high quality fleet while focusing on reliable and safe operations; to do this, the division will ensure its fleet meets stringent industry standards and continuously complies with customer requirements. To do this, Navig8 Chemical Tankers will maintain a comprehensive maintenance programme.
The company began operations with a fleet of 36 high specification fuel-efficient new buildings with exclusively modern eco-designs: including 18 x 37,295 dwt Interline-9001 coated chemical tankers, eight 25,000 dwt stainless steel chemical tankers, nine IMO II 49,000 dwt interline-9001 coated chemical tankers and two 49,080 dwt epoxy coated chemical tankers. The fleet features a complementary mix of coatings allowing for greater trading flexibility given their ability to accommodate multiple specialised cargoes with different grades and parcel sizes and providing an enhanced cargo resistance, reduced cleaning requirements and fewer cycling restrictions.
To ensure optimum quality, all vessels in the initial fleet have been, or will be constructed by leading Japanese and Korean manufacturers such as Hyundai Mipo Dockyard (HMD), Fukuoka Shipbuilding, STX Offshore & Shipbuilding, Kitanihon Shipbuilding and Hyundai Vinashin Shipyard.
The vessels have been arriving swiftly over the last year, with Navig8 Chemical Tankers announcing the deliveries of initial vessels Navig8 Victoria and Navig8 Almandine in January and February 2015. Navig8 Victoria is the first of two ECO 49,000 dwt chemical tankers to be constructed at Hyundai Vinashin Shipyard, while Navig8 Almandine is the first of 18 ECO IMO 37,000 dwt chemical tankers to be contracted at HMD. Both vessels entered Navig8’s pools, with Navg8 Victoria entering the Chronos8 pool and Navig8 Almandine entering the Delta8 pool. More recently, the company announced that it had delivered the 18th IMO2 interline-coated 37,000 dwt chemical tanker from Hyundai Mipo Dockyard in January 2016; the vessel then entered and operated in Navig8 Group’s Delta8 pool.
Meanwhile, in December 2015, the company announced it had exercised an option to acquire another 49,000 dwt ECO IMO II interline-coated chemical tanker, which is to be built at STX Offshore & Shipbuilding to the same technical specifications as Navig8’s pre-existing orders with the shipyard and is anticipated to be delivered in mid 2017 before being deployed into the Chronos8 pool.
Today Navig8 Chemical Tankers Inc has 20 vessels in operation under the Navig8 chemical pools and has an additional fleet of 17 high specification chemical tankers on order; taking the total fleet to 37 units. The remaining vessels are due for delivery by September 2017. Delivered vessels have been employed in the spotmarket oriented commercial pools of the Navig8 Group.
With a strategy for success in place, financial security and a wealth of vessels that continues to increase in number, Navig8 Chemical Tankers and Navig8’s commercially run chemical pools are on a direct route for success within the chemical tanker sector.
Provider of shipping management services
Unrivalled combination of fleet scale, diversity and vessel quality
Vast number of new build vessels on order