Navig8 Chemical sees rates as 'stabilised'

Features Tankers

Oslo-listed owner reports third consecutive quarterly loss as fleet growth outstrips demand.

Navig8
Chemical
Tankers
reported
a
loss
for
the
second
quarter
as
freight
rates
remain
weak
and
its
fleet
size
increases. But
chief
executive
Nicolas
Busch
sees
supply-demand
balances
righting
over
the
next
year.

Navig8
reported
a
$3.6m
loss
for
the
second
quarter
compared
to
a
$9.6m
profit
reported
a
year
earlier. 

Revenue
declined
4%
from
a
year
ago
to
$38.4m.
But
vessel
expenses
were
up
50%
as
the
company
added
nine
vessels
over
the
last
12
months. 

Interline-coated
tankers,
the
most

Importing and managing the logistics of your precious freight is no easy task. Compliance to U.S. Customs & Border Patrol is essential to your cargo clearing customs. Use a freight forwarder to lower your chances of having shipment delays and to oversee all of your international freight logistics. Contact a customs broker to file your ISF and issue any pre-alerts to avoid penalties and delays, and arrange your ocean freight and imports customs clearance.



Michael Angell