Navigator Gas Boosts Fleet with Two 48,500 Cubic Meter Liquefied Ethylene Carriers

Navigator Holdings Ltd. (“Navigator Gas”), a prominent player in the liquefied gas transportation sector, has announced the signing of contracts to build two new liquefied ethylene gas carriers. These Newbuild Vessels, each with a capacity of 48,500 cubic meters, will be constructed by Jiangnan Shipyard (Group) Co., Ltd. and China Shipbuilding Trading Co., Ltd. This strategic investment further strengthens Navigator Gas's position in the market, enhancing its ability to meet the growing global demand for efficient and reliable liquefied gas transportation.

The Newbuild Vessels are slated for delivery to the Company in March and July 2027, each at an average cost of $102.9 million. These vessels are designed to transport a diverse range of gas products, including complex petrochemical gases like ethylene and ethane, as well as LPG and clean ammonia. Equipped with dual-fuel engines optimized for ethane, a low-carbon transitional fuel, the vessels are also retrofit-ready for future ammonia fuel use. Additionally, they are designed to navigate both the original and new Panama Canal locks, offering increased operational flexibility.  The Company has also secured an option with the Sellers for an additional two vessels of identical specifications and pricing, with potential delivery in November 2027 and January 2028 if the option is exercised.

Mads Peter Zacho, CEO, emphasized that the construction of these vessels will enhance the connection between the company's ethylene export terminal at Morgan's Point and its global customer base. The new vessels will ensure the company continues to offer safe, efficient, and reliable ethylene transportation services. Additionally, these vessels are designed to be competitive and adaptable to the evolving low-carbon fuel landscape, positioning the company as a forward-looking player in the industry.

Navigator Holdings Ltd., a global leader in liquefied gas transportation, operates the world's largest fleet of handysize liquefied gas carriers. The company specializes in the efficient and reliable transportation of petrochemical gases, including ethylene, ethane, LPG, and ammonia. With its sophisticated fleet of semi- or fully refrigerated liquefied gas carriers, Navigator Gas plays a vital role in connecting energy companies, industrial consumers, and commodity traders worldwide.

The company's extensive network and expertise in liquefied gas transportation enable it to provide tailored solutions that meet the specific needs of its customers. Navigator Gas' commitment to safety, efficiency, and sustainability ensures that its vessels operate with the highest standards, minimizing environmental impact and maximizing operational efficiency.

In addition to its fleet of liquefied gas carriers, Navigator Gas also owns a significant stake in an ethylene export marine terminal in Texas, further strengthening its position in the liquefied gas supply chain. This strategic investment allows the company to offer a comprehensive range of services, including terminal operations, storage, and logistics.