Navigator Gas exercises options for two dual-fuel LEG carriers

November 21, 2024, by Naida Hakirevic Prevljak

Navigator Holdings (Navigator Gas), a UK-based owner and operator of the ‘world’s largest’ fleet of Handysize liquefied gas carriers, has exercised its previously announced option to construct two further 48,500 cbm liquefied ethylene gas carriers (LEGCs) in China.

The ships will be built at Jiangnan Shipyard and China Shipbuilding Trading.

As informed, the newbuild vessels are of the same specification and cost as those ordered in August 2024.

To remind, the company unveiled in August it would pay an average price of $102.9 million per vessel.

The vessels will be able to carry a wide variety of gas products, from petrochemicals such as ethylene and ethane to LPG and clean ammonia. In addition, they will be fitted with dual-fuel engines for ethane, a low-carbon intensity transitional fuel, and made retrofit-ready for using ammonia as a fuel in the near future.

Additionally, the new vessels will be capable of transiting through both the old and new larger Panama Canal locks.

The LEGCs are expected to be delivered to the company in November 2027 and January 2028, respectively. With the two additional units, Navigator now has four vessels in its newbuilding program, three of which are due for delivery in 2027 and one in 2028.

Navigator Gas’ fleet consists of 56 semi- or fully-refrigerated liquefied gas carriers, 25 of which are ethylene and ethane capable. The company also 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.