Navigator Holdings Ltd. (Navigator) (NYSE: NVGS), a leading provider of seaborne transportation and distribution of liquified gases, announced on Thursday (Nov11) that it has secured fixed-rate charters for three of its midsize ethane carriers, as follows:
For the Navigator Eclipse, a 4-year extension to its existing contract, to commence in direct continuation from March 2022.
For the Navigator Nova, a 3-year extension to its existing contract, to begin in direct continuation from September 2023.
A new, 4-year charter has been secured for the Navigator Prominence, expected to commence in January 2022, following completion of existing employment.
Oeyvind Lindeman, Navigator’s Chief Commercial Officer, commented:
“We are pleased to announce these important multi-year contract extensions for the Navigator Eclipse and Navigator Nova, as well as the new, 4-year charter for the Navigator Prominence. We are proud to partner with our customer in enabling them to take advantage of competitively priced U.S.-produced ethane. The vessels will form a safe, reliable and efficient ‘floating pipeline’ connecting America with our partner’s petrochemical complex overseas.”