Navigator Reveals Additional Vessel Acquisitions Under Joint Venture with Greater Bay Gas

Photo credit: Navigator Gas / Navigator Holdings

Navigator Holdings, an owner and operator of handysize liquefied gas carriers, expands its fleet portfolio with additional vessel acquisitions under its 60/40 joint venture with the China-based Greater Bay Gas, a gaseous product logistic service provider.

The vessel acquisitions were announced last year and now shipowner has received the third and fourth vessel which were delivered on 23 and 27 of March this year. The vessels, renamed Navigator Castor and Navigator Equator, are 22,000 cbm liquefied ethylene gas carriers built in 2019.

The Joint Venture announced the purchase of the first and second of five vessels on December 20, 2022 and January 17, 2023.

The final 22,000 cbm vessel is expected to be purchased by the Joint Venture in the coming weeks.

All five vessels will continue to be commercially managed under the Luna Pool collaboration arrangement, and technical management will be provided by the third-party technical manager, PG Shipmanagement of Singapore, as the company claims.

The New-York listed Navigator is an owner and operator of handysize liquefied gas carriers and a player in the seaborne transportation services of petrochemical gases, such as ethylene and ethane, liquefied petroleum gas 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’s fleet now consists of 56 semi- or fully-refrigerated liquefied gas carriers, 25 of which are ethylene and ethane capable. 

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