Navigator Gas Completes Acquisition of Three Handysize Ethylene Carriers to Enhance Export Capacity

Navigator Gas completes acquisition of three handysize ethylene carriers to enhance export capacity from its Texas terminal.

Quiver AI Summary

Navigator Holdings Ltd. has successfully completed the acquisition of three handysize ethylene carriers to enhance its export capabilities, as initially announced on January 7, 2025. The final vessel, Navigator Vesta, was delivered on March 17, 2025, following the earlier deliveries of Navigator Hyperion and Navigator Titan. All three vessels have a capacity of 17,000 cubic meters and are positioned to contribute to Navigator Gas's role in the liquefied gas supply chain. With this acquisition, Navigator Gas now operates 59 liquefied gas carriers, solidifying its status as the owner of the world's largest fleet of handysize gas carriers. The company is engaged in the transportation of petrochemical gases and operates a joint venture ethylene export terminal in Texas.

Potential Positives

• Navigator Holdings Ltd. has successfully completed the acquisition of three handysize ethylene carriers, enhancing its operational capacity and fleet size.
• The addition of the three new vessels increases Navigator Gas' total fleet to 59 liquefied gas carriers, positioning the company as a leader in the seaborne transportation of petrochemical gases.
• The vessels are expected to operate in the spot market soon, which may provide new revenue opportunities for the company.

Potential Negatives

• There is no mention of the financial terms or implications of the acquisition, which may raise concerns about the company's financial commitments and the impact on its overall capital structure.
• The use of forward-looking statements could indicate uncertainty about the future operational and economic performance of the company, potentially creating skepticism among investors.
• The lack of detailed information regarding the operational readiness of the newly acquired vessels may lead to questions about their immediate contribution to revenue generation.

FAQ

What recent acquisitions has Navigator Gas completed?

Navigators Gas completed the acquisition of three handysize ethylene carriers to enhance its export capacity.

What are the names of the newly acquired vessels?

The newly acquired vessels are named Navigator Hyperion, Navigator Titan, and Navigator Vesta.

What is the capacity of Navigator Gas's new vessels?

Each of the new vessels has a capacity of 17,000 cubic meters for liquefied ethylene gas.

Where does Navigator Gas operate its ethylene export terminal?

Navigator Gas operates its ethylene export terminal at Morgan’s Point, Texas, on the Houston Ship Channel.

What is the stock symbol for Navigator Gas on the NYSE?

Navigator Gas is traded on the New York Stock Exchange under the symbol "NVGS".

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$NVGS Hedge Fund Activity

We have seen 45 institutional investors add shares of $NVGS stock to their portfolio, and 70 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

• FIRST SABREPOINT CAPITAL MANAGEMENT LP added 496,220 shares (+266.4%) to their portfolio in Q4 2024, for an estimated $7,616,977
• ACADIAN ASSET MANAGEMENT LLC added 260,960 shares (+15.0%) to their portfolio in Q4 2024, for an estimated $4,005,736
• FIRST MANHATTAN CO. LLC. added 207,851 shares (+25.1%) to their portfolio in Q4 2024, for an estimated $3,190,512
• UBS GROUP AG added 200,514 shares (+383.2%) to their portfolio in Q4 2024, for an estimated $3,077,889
• CITADEL ADVISORS LLC removed 194,061 shares (-91.9%) from their portfolio in Q4 2024, for an estimated $2,978,836
• 683 CAPITAL MANAGEMENT, LLC added 190,000 shares (+inf%) to their portfolio in Q4 2024, for an estimated $2,916,500
• MARSHALL WACE, LLP removed 181,712 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $2,789,279

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Full Release

LONDON, March 17, 2025 (GLOBE NEWSWIRE) -- Navigator Holdings Ltd. (“

Navigator Gas

” or the “

Company

”) (NYSE: NVGS), the owner and operator of the world’s largest fleet of handysize liquefied gas carriers, is pleased to announce that today, it completed the final acquisition in a series of three handysize ethylene carriers that Navigator Gas committed to acquiring to complement the increased export capacity from its Export Terminal Joint Venture, as announced on January 7, 2025 (the “

Transaction

”).

Following the delivery of the first vessel, renamed

Navigator Hyperion

, as announced on February 19, 2025, the remaining two vessels, renamed

Navigator Titan

and

Navigator Vesta

, were delivered on February 24, 2025, and March 17, 2025, 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.

About Navigator Gas

Navigator Holdings Ltd. (described herein as “Navigator Gas” or the “Company”) is the owner and operator of the world’s largest fleet of handysize liquefied gas carriers and a global leader in the seaborne transportation services of petrochemical gases, such as ethylene and ethane, liquefied petroleum gas (“LPG”) and ammonia and 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. Following completion of the Transaction, Navigator Gas’ fleet now consists of 59 semi- or fully-refrigerated liquefied gas carriers, 28 of which are ethylene and ethane capable. The Company plays a vital role in the liquefied gas supply chain for energy companies, industrial consumers and commodity traders, with its sophisticated vessels providing an efficient and reliable ‘floating pipeline’ between the parties, connecting the world today, creating a sustainable tomorrow. Navigator Gas’ common stock trades on the New York Stock Exchange under the symbol “NVGS”.

For media inquiries or further information, please contact:

Alexander Walster


Head of ESG & Communications


Email:

communications@navigatorgas.com



Verde, 10 Bressenden Place, London, SW1E 5DH, UK


Tel: +44 (0)7857 796 052, +44 (0)20 7045 4114

Navigator Gas Investor Relations



Email:

investorrelations@navigatorgas.com

,

randy.giveans@navigatorgas.com





333 Clay Street, Suite 2400, Houston, Texas, U.S.A. 77002


Tel: +1 713 373 6197, +44 (0)20 7340 4850

Investor Relations / Media Advisors



Nicolas Bornozis / Paul Lampoutis


Capital Link – New York


Tel: +1-212-661-7566


Email:

navigatorgas@capitallink.com

Forward looking statements

This press release contains certain “forward-looking” statements (as defined by the Securities and Exchange Commission) concerning plans and objectives of management for future operations or economic performance, or assumptions related thereto. In addition, we and our representatives may from time to time make other oral or written statements that are also forward-looking statements. In some cases, you can identify the forward-looking statements by the use of words such as “may,” “could,” “should,” “will,” “would,” “expect,” “plan,” “anticipate,” “intend,” “forecast,” “believe,” “estimate,” “predict,” “propose,” “potential,” “continue,” “scheduled,” or the negative of these terms or other comparable terminology.

These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include but are not limited to those set forth in the periodic reports Navigator files with the U.S. Securities and Exchange Commission.

All forward-looking statements included in this press release are made only as of the date of this press release. New factors emerge from time to time, and it is not possible for us to predict all of these factors. Further, we cannot assess the impact of each such factor on our business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement. We expressly disclaim any obligation to update or revise any forward-looking statements, whether because of future events, new information, a change in our views or expectations, or otherwise. We make no prediction or statement about the performance of our common stock.

Category: General

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.