New York-listed handysize liquefied gas carrier owner Navigator Holdings signed on Monday definitive agreements to sell eight gas carriers, as well as its shareholding in the Unigas International B.V. joint venture (the Unigas Pool), for an aggregate purchase price of approximately $183m.
The move follows the execution of a non-binding letter of intent announced on April 15, 2026.
The eight gas carriers to be sold as part of the transaction are the Happy Pelican with 6,800 capacity (m3) built in 2012, Happy Penguin with 6,800 capacity (m3) built in 2013, Happy Condor with 9,000 capacity (m3) built in 2008, Happy Osprey with 12,000 capacity (m3) built in 2013, Happy Kestrel with 12,000 capacity (m3) built in 2013, Happy Peregrine with 12,000 capacity (m3) built in 2014, Happy Albatross with 12,000 capacity (m3) built in 2015 and the Happy Avocet with 12,000 capacity (m3) built in 2017.
Navigator Holdings said the vessels and shares in the Unigas Pool are to be sold to Bernhard Schulte Investment Holding GmbH and Sloman Neptun Schiffahrts-Aktiengesellschaft, the existing partners in the Unigas Pool.
The proceeds from the transaction are expected to be used, according to the company, for general corporate purposes.
The transaction, which is subject to customary closing conditions, as well as delivery of the vessels pursuant to it, is expected to be completed by the fourth quarter of 2026, after which the company’s fleet will consist of 46 vessels, 16 of which will be ethylene and ethane capable.
Navigator Gas’ fleet currently consists of 54 semi- or fully-refrigerated liquefied gas carriers, 24 of which are ethylene and ethane capable.
“The transaction is consistent with the company’s ongoing focus on fleet optimization and disciplined capital allocation, and will allow it to focus on its long-term fleet strategy centred on growing and consolidating handysize and midsize ethylene-capable vessels,” the statement read.
