Ocean Yield Sells Chemical Tanker to Navig8

Shipowner Ocean Yield has completed the sale of the Navig8 Amessi chemical tanker to Navig8 Chemical Tankers.

Navig8 Chemical Tankers Inc. had in January declared the purchase option on the 2015-built chemical tanker. It was then said Navig8 would pay USD 26.5 million for the transaction.

Ocean Yield on Wednesday said the transaction for the Hyundai-built tanker was successfully completed.

"Following repayment of the bank debt on the vessel, the transaction will give net cash proceeds of about USD 9.7 million for Ocean Yield. The transaction is not expected to have any impact on the net results for Q3 2020," Ocean Yield said.

According to MarineTraffic, the Navig8 Amessi is currently at anchor near Panama City, Panama, waiting to pass through the Panama Channel.