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Navigator Holdings Ltd News

08 Nov 2016

Navigator Reports Profits for Q3

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.

03 Nov 2014

Shipbuilding: Navigator Holdings Orders Two LPG Carriers

(Photo: Navigator Gas)

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.

07 Aug 2014

Navigator Enters Long Term Ethane Transport Charter

Photo: S. Nizhebetskyy

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.

20 Dec 2013

Navigator Declares Further Newbuilds

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.

10 Nov 2011

WL Ross Invests in Navigator Holdings LTD

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…