Navigator Holdings orders two new liquefied ethylene gas carriers

Navigator Holdings announced that it entered into contracts to build two new 48,500 cubic meter capacity liquefied ethylene gas carriers with Jiangnan Shipyard and China Shipbuilding Trading in China. The Newbuild Vessels are scheduled to be delivered to the company in March 2027 and July 2027 respectively, at an average price of $102.9M per vessel. The Newbuild Vessels will be able to carry a wide variety of gas products, ranging from the most complex petrochemical gases, such as ethylene and ethane, to LPG and clean ammonia. The Newbuild Vessels will be fitted with dual-fuel engines for ethane, a low-carbon intensity transitional fuel, and made retrofit-ready for using ammonia as a fuel in the near future. Additionally, the Newbuild Vessels will be capable of transiting through both the former and the new Panama Canal locks, providing enhanced flexibility. The company has also agreed an option with the sellers for an additional two newbuilding vessels of the same specification and price as the Newbuild Vessels, with expected delivery to the company in November 2027 and January 2028, respectively, if the option is exercised.