The company reported a net loss of USD 3.7 million in 2017, compared to a net loss of USD 3.6 million seen in the corresponding period a year earlier.
Net loss for 2017 stood at USD 13.4 million, against a profit of USD 20.1 million recorded in 2016.
Revenue for the three months ended December 31, 2017, was USD 43.3 million, up from a revenue of USD 33.9 million posted in the same period of 2016.
In addition, operating income stood at USD 8.6 million in the fourth quarter of 2017, up from USD 6.2 million recorded in the same period a year earlier.
“The chemical tanker market began to show signs of improvement in the fourth quarter led by stronger demand in the chemical sector and tightening in the MR product tanker market,” Nicolas Busch, Chief Executive Officer of Navig8 Chemical Tankers, commented.
“With our fleet fully delivered, we are pleased to have generated sequential increases in revenues and operating income and believe we are well positioned as fleet growth for larger vessels begins to slow and chemical tanker demand continues to increase,” Busch added.
The company had 32 vessels operating during the three months ended December 31, 2017, out of which 31 vessels operate in pools from which they derive TCE revenue, and one vessel is commercially managed by Navig8 Group outside of the pools and has been employed on a time-charter out since December 2017.
Established in 2013, Navig8 Chemical Tankers is a joint venture between the Navig8 Group and Oaktree Capital Management which operates 32 chemical tankers in the range between 25,000 and 49,000 dwt.
OUCO Marine/Offshore 1T30M@20T3M Telescopic boom cranes
OUCO Marine/Offshore 1T30M@20T3M Telescopic boom cranes are based on a pedestal slewing design with hydraulic cylinder luffing. The boom extension is a telescopic inner section that allows a more flexible and wider operational radius in use and leaves the crane stored in a compact position.
The advantages of the telescopic cranes are low weight and less complex design making them maintenance-friendly. This offshore crane especially wildly been used in the mild-east area for the OSV (oil service vessel); which is especially designed according to the harsh working environment there. OUCO Marine Telescopic cranes can be designed and manufactured by clients’ requirements in our own factory.The perfect solution for applications that require reach and compact storage, the Telescopic Boom crane is available with two to four box boom sections.
The availability of a telescopic or fixed jib extension on a telescopic boom is not only easy to attach and use, but it makes it possible to extend the reach of the crane boom by as much as 40 meter. With a jib, boom cranes are capable of reaching boom lengths as tall as 35 meter, which is very beneficial when placing loads at height or lifting personnel using a work platform.
Typical Applications: Provision cranes, Service cranes, Container and cargo handling cranes