Navigator Holdings Ltd. (Navigator) (NYSE: NVGS), the owner and operator of the world’s largest fleet of handysize liquefied gas carriers, has announced its fifth and final vessel acquisition planned under its 60/40 joint venture agreement with Greater Bay Gas Co. Ltd. (Liberia) (Greater Bay Gas), previously announced on September 30, 2022.
The Joint Venture announced the purchase of the first four vessels between December 20, 2022 and March 27, 2023.
The final vessel, renamed the Navigator Vega, is a 22,000 cbm liquefied ethylene gas carrier built in 2019 and was delivered today.
As previously stated, 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.
This fifth delivery concludes the first multi-vessel acquisition under the Joint Venture, which was announced in September 2022 and has been completed considerably ahead of the anticipated fifteen-month delivery schedule.