US-listed handysize liquefied gas carrier owner and operator Navigator Holdings has revealed that it completed the final acquisition in a series of three handysize ethylene carriers. To remind, Navigator Gas made a deal to acquire three handysize ethylene carriers for a total purchase price of $83.9m.
The acquisition and delivery of the vessel, a German-built 17,000 cubic meter capacity liquefied ethylene gas carrier, renamed Navigator Hyperion, is the first of three handysize ethylene carriers that Navigator Gas committed to acquiring to complement the increased export capacity from its export terminal joint venture.
Following the delivery of the first vessel, the remaining two vessels, renamed Navigator Titan and Navigator Vesta, were delivered on February 24 and March 17, respectively.
All three vessels are 17,000 cubic meter capacity liquefied ethylene gas carriers. Navigator Hyperion is currently on charter, while Navigator Titan and Navigator Vesta are expected to soon be operating in the spot market as well, according to Navigator Gas release.
It is worth mentioning that the company 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 -following completion of the transaction- now consists of 59 semi- or fully-refrigerated liquefied gas carriers, 28 of which are ethylene and ethane capable.
