Navigator Holdings News

Private equity firm WL Ross & Co. said it has agreed to sell its approximately 39.1% equity interest in ship owner-operator Navigator Holdings to maritime and offshore company BW Group at a price of $9 per share."Navigator Holdings has been an industry leader since we made the initial investment. We think the company's future is bright, and this long-term investment from BW Group will position the company to realize its potential," said Hal Malone, Head of Transportation of WL Ross.Andreas Sohmen-Pao, Chairman of BW Group, said "BW is excited to be taking an ownership position in Navigator Holdings, a leading company in its sector, and…

Norwegian shipowner Ocean Yield ASA has agreed to acquire Navigator Aurora, a 37,300 cbm ethylene gas carrier owned by Navigator Gas.According to agreement, the ship will be purchased for a total consideration of USD 69.75 million net of a seller’s credit, with a 13-year bareboat charter to a company 100% owned and guaranteed by Navigator Holdings - Navigator Gas.The vessel is expected to be delivered to the Company during October 2019. Navigator Gas has certain options to acquire the vessel during the charter period. The transaction is subject to final documentation.The vessel, Navigator Aurora, is a 37,300 cbm ethylene gas carrier that was built in 2016.

According to a Reuters report, U.S. Commerce Secretary Wilbur Ross has divested his interests in oil tanker company Diamond S Shipping and is in the process of selling off his holdings in another shipping firm, Navigator Holdings, a Trump administration official said earlier this week. Ross had originally intended to retain his shipping interests following his confirmation in February. But the 79-year-old investor came under criticism after disclosures on Sunday that one of Navigator's major clients is the Russian gas company Sibur…

Navigator Holdings Ltd. (NVGS) has reported third-quarter ended September 30, 2016profit of $6.5 million, with earnings per share of $0.12. The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share. EBITDA was $30.4 million for the three months ended September 30, 2016. The transportaion company for the natural gas and and chemical industry posted revenue of $69.7 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $62.6 million. The company took delivery of the first of our four midsize semi-refrigerated ethane/ethylene capable newbuilding vessels, on August 2, 2016 Navigator Aurora.

Navigator Holdings Ltd. (NYSE: NVGS) announced that it has ordered two 22,000 cubic meter semi-refrigerated liquefied gas carriers at Hyundai Mipo Dockyard (HMD) in South Korea at a construction cost of $51 million each. The vessels are scheduled to be delivered in January and March 2017 respectively. These two LPG vessels will operate on agreed time charters for an initial term of five years from delivery, with a charterer’s option, exercisable prior to the delivery of the vessels, to extend the term for an additional five years – making them each ten year time charters.

Navigator Holdings Ltd. announced today that it has signed a long term shipping agreement for one of its 35,000 cubic meter ethylene/ethane capable semi-refrigerated liquefied gas carriers, currently being built at Jiangnan Shipyard, China. The ten year time charter has been agreed with Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. The charter, which is planned to commence in late 2016, will transport ethane from the Marcus Hook terminal operated by Sunoco Logistics to Borealis’ cracker in Stenungsund, Sweden.

In its preliminary fourth quarter and financial year 2013 results, ship owners and charterers Navigator Holdings report that EBITDA increased to $106.8 million for the year ended December 31, 2013 from $63.9 million for 2012. Operating revenue for the year ended December 31, 2013 amounted to $234.3 million (excluding the cargo revenue mentioned above), an increase of $87.6 million compared to operating revenue of $146.7 million for the year ended December 31, 2012. Net operating revenue…

Navigator Holdings Ltd. today announced that it has exercised its last remaining option to construct a 22,000 cubic meter gas carrier at Jiangnan Shipyard (Group) Co Ltd. in China at the previously agreed construction price of $44 million, with the vessel scheduled for delivery in March 2016. Furthermore, Navigator has entered into a contract with Jiangnan to construct a 35,000 cubic meter gas carrier for delivery in April 2016. This vessel will be the largest ethane gas carrier on the market enabling efficient transportation to our customers for this essential petrochemical feedstock. The company has an option agreement for the construction of up to three further ethane capable 35,000 cubic meter vessels.

WL Ross & Co. and Navigator Holdings Ltd. have entered into a definitive agreement for WL Ross to acquire up to 19.4% of Navigator's common stock for a total of US$62.5 million in order to provide additional capital resources for the company's growth program. Up to two designees of WL Ross & Co., including Wilbur Ross, Jr., Chairman of WL Ross & Co., will join the company’s board of directors. “We see very substantial opportunities in the global transportation industry, particularly rail and marine shipping,” said Mr. Ross. “Navigator is a leader in the handy-sized shipping segment, which has excellent fundamentals and a positive outlook as global shifts in demand for liquefied petroleum gas and other petrochemicals increase opportunities for efficient…

The English and Isle of Man courts granted injunctions against Navigator Gas Management (NGM) and Vela Energy Holdings Ltd in a dispute over the proposed long-term chartering of five gas tankers in the Navigator Gas Transport (NGT) fleet managed by NGM. The English injunction forbids NGM from taking any action which amounts to a denial of the existence of the Montanari charters and from suggesting to any third parties that the charters are ineffective. This follows claims made by NGM in the trade press and in brokers' reports that the Montanari charters, concluded on November 30 last year, are invalid. Group. Vela claims to have bought 51 per cent of the shares in Arctic…