Navigator Holdings, the owner and operator of a fleet of handysize liquefied gas carriers, announced the second vessel acquisition under its 60/40 joint venture with Greater Bay Gas. This is the second out of overall five vessels to be delivered to the joint venture.
The vessel, renamed Navigator Solar, is a 17,000 cbm liquefied ethylene gas carrier, built in 2018, and was delivered on January 16, 2023. The remaining vessels expected to be purchased over the next 12 months by the joint venture are three 22,000 cbm, 2019-built ethylene carriers.
The joint venture of the two companies announced the purchase of the first vessel on December 20, 2022.
It’s worth noting that 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.
Greater Bay Gas is a gaseous product logistic service provider based in the heart of the Shenzhen Greater Bay Area, China. It currently operates the fleet of five modern semi-pressurized and semi-refrigerated ethylene and ethane gas carriers that are expected to be acquired by the joint venture.