Navigator Holdings Ltd. (Navigator), which operates the world's largest fleet of Handysize liquefied gas carriers, has disclosed the acquisition of its third and fourth vessels as part of its 60/40 joint venture with Greater Bay Gas Co. Ltd. (Liberia) (Greater Bay Gas).
The joint venture had already purchased the first and second of five vessels on December 20, 2022, and January 17, 2023, respectively.
The latest vessels, Navigator Castor and Navigator Equator, were delivered on March 23 and March 27, 2023, respectively.
These vessels are both 22,000 cbm liquefied ethylene gas carriers that were built in 2019.
The joint venture is expected to purchase the fifth and final 22,000 cbm vessel in the coming weeks.
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