Navigator Holdings, listed on the New York Stock Exchange, is set to expand its fleet with two new 48,500 cubic meter liquefied ethylene gas carriers. The world’s leading operator in the handysize LPG carrier segment has signed a contract with Jiangnan Shipyard in China to build and deliver these vessels, scheduled for completion in March and July 2027, at an approximate cost of $102.9 million each.
The agreement includes an option for two additional units, which, if exercised, will see delivery in November 2027 and January 2028.
These vessels will have the capacity to transport a range of gas products, including ethylene, ethane, LPG, and clean ammonia, according to Navigator. The newbuilds will be equipped with ethane dual-fuel engines, designed to be ammonia fuel-ready, and capable of navigating both the existing and the new Panama Canal locks.
Navigator currently operates a fleet of 56 semi- or fully-refrigerated liquefied gas carriers and holds a 50% stake in an ethylene export marine terminal at Morgan’s Point in Texas.
“Building these vessels strengthens the link between our ethylene export terminal at Morgan’s Point and our global customers. They enable us to maintain a safe, efficient, and reliable ethylene transportation capability that is both competitive and future-ready, using assets adapted to the low-carbon fuel landscape,” stated Mads Peter Zacho, CEO of Navigator Holdings.
