Navig8 Group is said to be close to finalising an order for up to eight long-range-two (LR2) products tankers at China’s New Times Shipbuilding, with support from a Chinese leasing company.

Tanker-market sources say Navig8 has secured 90% financing from Minsheng Financial Leasing (MFL) and taken a 10% buyers’ credit from the shipyard for four firm newbuildings, with options for four more.

Shipbuilding