Oslo-listed shipowner Ocean Yield ASA received the LR2 product tanker Navig8 Sanctity from Korean shipbuilder Sungdong Shipyard, the company informed. After being delivered from the shipyard, the vessel commenced a 13-year "hell and high water" bareboat charter to Navig8 Product Tankers Inc.

This is the second vessel delivered in a series of total four product tankers that will be chartered to Navig8 Product Tankers Inc.

The first one, Navig8 Symphony, was delivered to its owner in February and went on a 13-year "hell and high water" bareboat charter to Navig8 immediately after the delivery.

"Ocean Yield's is experiencing strong growth in its fleet through the delivery of vessels on long term charters to first class shipping companies. Year to date we have taken delivery of three vessels and will during the next twelve months take delivery of another ten vessels, bringing the fleet to a total of 27 vessels. The deliveries further diversifies our fleet into new shipping segments and strengthens our earnings," said Ocean Yield ASA's CEO Lars Solbakken said.