Navig8 Product Tankers has been hit with fresh notice that it has breached valuation standards for eight long-range-two (LR2) tankers it financed through a sale-and-leaseback deal with CSSC (Hong Kong) Shipping Co in July 2015.
The modern vessels are among the 27 units about to be acquired by New York-listed Scorpio Tankers in an acquisition of Oslo over-the-counter (OTC) vehicle Navig8 in a deal worth $1.1bn.
