Navigator Holdings Ltd., the owner and operator of the world’s largest fleet of handysize liquefied gas carriers, exercised its previously announced option to construct two further 48,500 cubic meter capacity liquefied ethylene gas carriers with Jiangnan Shipyard (Group) Co., Ltd. and China Shipbuilding Trading Co., Ltd. in China, according to the company's release.
The newbuild vessels are of the same specification and cost as the vessels announced by the company on August 23, 2024, and will be able to carry a wide variety of gas products, from petrochemicals such as ethylene and ethane, to LPG and clean ammonia.
The newbuild vessels are expected to be delivered to the company in November 2027 and January 2028 respectively.
With the two additional newbuild vessels, Navigator now has four vessels in its newbuilding program, three of which are due for delivery in 2027 and one in 2028.
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 services of petrochemical gases, such as ethylene and ethane, liquefied petroleum gas (“LPG”) and ammonia and owns a 50% share, through a joint venture, in an ethylene export marine terminal at Morgan’s Point, Texas on the Houston Ship Channel, USA. Navigator Gas’ fleet consists of 56 semi- or fully-refrigerated liquefied gas carriers, 25 of which are ethylene and ethane capable.