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Navig8, Oaktree form chemical tanker joint venture

Navig8 and Oaktree Capital Management have come together to form a chemical tanker joint venture named Navig8 Chemical Tankers Inc.

Lee Hong Liang, Asia Correspondent

October 10, 2013

1 Min Read

Kalyakan - stock.adobe.com

The new venture has placed an initial order at Hyundai Mipo Dockyard for six 37,000 dwt IMO2 eco-design chemical tankers for delivery in the first quarter of 2015, together with a series of fixed price optional vessels.

Financial details for the price of the newbuildings were not disclosed.

Navig8 currently manages a fleet of 210 vessels including chemical tankers, product tankers, crude tankers and dry bulk carriers.

Oaktree has $76.4bn in assets under management as of 30 June 2013.

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

See more from Lee Hong Liang

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