11/24/2021 | Press release | Distributed by Public on 11/24/2021 16:16
November 24, 2021 - Navigator Holdings Ltd. ("Navigator") (NYSE: NVGS), a leading provider of seaborne transportation and distribution of liquified gases, announced today that Dan-Unity CO2 A/S ("Dan-Unity"), Navigator's 50/50 joint venture with Evergas A/S ("Evergas"), received approval in principle from Classification Society American Bureau of Shipping for its new 12,500 cubic metre capacity and 22,000 cubic metre capacity CO2-carrying vessel designs, provided by TGE Marine.
Oeyvind Lindeman, Navigator's Chief Commercial Officer, commented:
"We are pleased to announce this important milestone which will enable Navigator's Dan-Unity CO2 joint venture to consider the next step in the process of developing these CO2 carriers."
Navigator Holdings Ltd. 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. On August 4, 2021, Navigator announced that it merged the fleet and business activities of Ultragas ApS with its own, adding an additional 18 vessels to the fleet. The transaction unites two leading gas shipping companies. Navigator's combined fleet now consists of 55 semi- or fully-refrigerated liquefied gas carriers, 22 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.
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