- Navigator Gas Exercises Option to Build Two New Ethylene Carriers
- New Additions Strengthen Navigator’s Global Liquefied Gas Operations
- Navigator Holdings to Receive Two Newbuild Vessels by 2028
Navigator Holdings Ltd. (Navigator Gas or the Company) NYSE: NVGS announced that it had decided to exercise an option previously disclosed to construct two additional liquefied ethylene gas carriers. The newbuild vessels with a capacity of 48,500 cubic meters each will be built by Jiangnan Shipyard (Group) Co., Ltd. and China Shipbuilding Trading Co., Ltd. collectively known as the Sellers, reports Navigator Gas.
New Vessel Specifications
The new vessels will have the same specifications and cost as the two vessels announced by the company on August 23, 2024. They transport a broad range of gas products, including ethylene, ethane, liquefied petroleum gas (LPG), and clean ammonia.
The Newbuild Vessels are expected to be delivered in two phases-the first one occurring in November 2027, while the rest will be due in January 2028.
Fleet Expansion Plan
With the addition of these two Newbuild Vessels, Navigator Gas has entered four vessels under its new building program. Three of these vessels will be delivered in 2027 and one in 2028. This reflects the company’s continued capacity-building process for the liquefied gas transportation stream.
About Navigator Gas
Navigator Holdings Ltd. is the owner and operator of the world’s largest fleet of handysize liquefied gas carriers. The company focuses on transporting petrochemical gases such as ethylene, ethane, liquefied petroleum gas, and ammonia. Navigator Gas also holds a 50% stake in an ethylene export marine terminal at Morgan’s Point, Texas, sited on the Houston Ship Channel.
The company has a fleet of 56 semi- or fully-refrigerated liquefied gas carriers, 25 of which are capable of carrying ethylene and ethane. Navigator Gas plays an important role in the liquefied gas supply chain around the world, connecting energy companies, industrial consumers, and commodity traders with a reliable pipeline floating on water. Common stock is traded publicly on the New York Stock Exchange under the ticker symbol NVGS.
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Source: Navigator Gas
