Navigator Holdings, Pacific Gas and Greater Bay Gas form Luna Pool
Navigator Holdings Ltd. in collaboration with Pacific Gas Pte. Ltd. (Singapore) and Greater Bay Gas Co Ltd (HK) announce the formation of the Luna Pool, the company said in its release. The Luna Pool will be focused on the ocean transportation of liquefied petrochemical gas cargoes, with a specific focus on ethylene and ethane.
With a combined fleet of fourteen Handysize vessels, ranging in capacities between 17,000cbm and 22,000cbm, the Luna Pool will bring enhanced flexibility and unparalleled service to the market. The Pool will commence operations in April with commercial and operational management from the Navigator Gas London office supported by the existing offices of Pacific Gas and Greater Bay Gas offices in Singapore, Shenzhen and Shanghai.
The Pool will be managed by a highly professional and experienced team formed by the partners and will have dedicated Commercial and Operational teams to ensure every cargo is efficiently and safely delivered to its destination. Technical management will not change from the current arrangements.
About Navigator Holdings
Navigator Holdings Ltd. is the owner and operator of the world’s largest fleet of handysize liquefied gas carriers and a global leader in the seaborne transportation of petrochemical gases, such as ethylene and ethane, liquefied petroleum gas (“LPG”) and ammonia. Navigator’s fleet consists of 38 semi or fully-refrigerated liquefied gas carriers, 14 of which are ethylene and ethane capable. The Company plays a vital role in the liquefied gas supply chain for energy companies, industrial consumers and commodity traders, with our sophisticated vessels providing an efficient and reliable ‘floating pipeline’ between the parties.
In January 2020 Navigator Holdings Ltd. in partnership with Enterprise Product Partners L.P. announced the commencement of operations of the new ethylene export terminal at Morgan’s Point, Houston. The terminal features two docks and the capacity to load 2.2 billion pounds of ethylene per year. A refrigerated storage tank for 66 million pounds of ethylene is also being build on-site and will increase the loading rate of ethylene to2.2 million pounds per hour. The tank construction is expected to be completed in the fourth quarter of 2020.
Greater Bay Gas is a gaseous product logistic service provider based in the heart of the Shenzhen Greater Bay Area. The company currently operates a fleet of 5 modern semi-pressurized and semi-refrigerated ethylene and ethane gas carriers and is developing its core business through global strategic partnerships to serve increasing demand for shipping and related logistics of gaseous product worldwide.
Greater Bay Gas was founded by Equator Fund Limited and industrial players with LNG and LPG shipping backgrounds. Equator Fund is a maritime focus fund from the city of Shenzhen, China with offices in Hong Kong and Shanghai.