Petroleum products shipping company Navig8 Product Tankers has received a 113,000dwt LR2 tanker Navig8 Goal from China's Guangzhou Shipyard International Company Limited (GSI). Navig8 Goal is the fifth of eight vessels ordered at GSI.

The vessel is also the fifth to be delivered under the sale and leaseback agreements entered into with CSSC (Hong Kong) Shipping Company Limited (CSSC).

Following delivery from GSI, Navig8 Goal was delivered to CSSC under the terms of the sale memorandum of unerstanding and then delivered back to the company under bareboat charter.

The Navig8 Goal will be entered into and operated in Navig8 Group's Alpha8 commercial pool.

Navig8 Product Tankers was established in 2013 as a joint venture between the Navig8 Group and DVB Bank.

The company has taken delivery of twelve LR1 and twelve LR2 product tanker newbuildings to date and anticipates delivery of its full 27 eco-design product tanker newbuilding fleet during the first quarter of 2017.

The company's fleet is contracted to operate in various product tanker pools managed by the Navig8 Group, an independent pool and commercial management company.