Navigator Announces 2nd Vessel Acquisition Under 60/40 JV with Greater Bay Gas

Source: 1/17/2023, Location: North America

Navigator Holdings Ltd., the owner and operator of the world’s largest fleet of handysize liquefied gas carriers, is pleased to announce the second vessel acquisition under its 60/40 joint venture with Greater Bay Gas Co. Ltd. (Liberia) (“Greater Bay Gas”), (the “Joint Venture”), previously announced on September 30, 2022. The Joint Venture announced the purchase of its first of five vessels on December 20, 2022.

The vessel, renamed Navigator Solar, is a 17,000 cbm liquefied ethylene gas carrier, built in 2018 and was delivered on January 16, 2023. The remaining vessels expected to be purchased over the next 12 months by the Joint Venture are three 22,000 cbm, 2019-built ethylene carriers.

As previously announced, all five vessels will continue to be commercially managed under the Luna Pool collaboration arrangement, and technical management will be provided by the third-party technical manager, PG Shipmanagement Pte. Ltd. of Singapore.

Gulf Oil and Gas
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