Navigator Gas Announces Completion of Acquisition of First of Three Handysize Liquefied Ethylene Gas Carriers

Core Viewpoint - Navigator Holdings Ltd. has completed the acquisition of the first of three handysize liquefied ethylene gas carriers to enhance its export capacity and support its ethylene export terminal expansion [1][2]. Group 1: Acquisition Details - The first vessel acquired is a German-built liquefied ethylene gas carrier with a capacity of 17,000 cubic meters, renamed Navigator Hyperion [2]. - The remaining two vessels are expected to be delivered between February and May 2025, and all three vessels will operate in the spot market shortly after delivery [2]. Group 2: Financing - The acquisition will be financed using cash on hand and proceeds from a facility agreement with Nordea Bank Abp, which was established on February 7, 2025 [3]. - The obligations under the facility agreement are guaranteed by Navigator Holdings Ltd. and secured by the three vessels [3]. Group 3: Company Overview - Navigator Holdings Ltd. operates the world's largest fleet of handysize liquefied gas carriers and is a leader in the transportation of petrochemical gases, including ethylene, ethane, liquefied petroleum gas (LPG), and ammonia [4]. - Following the completion of the acquisition, the company's fleet will consist of 59 semi- or fully-refrigerated liquefied gas carriers, with 28 capable of transporting ethylene and ethane [4]. - The company plays a crucial role in the liquefied gas supply chain, providing efficient transportation solutions for energy companies, industrial consumers, and commodity traders [4].