Navigator Holdings Ltd. Announces Approval In Principle For New CO2 Carrier Designs For Its Dan-Unity CO2 Joint Venture With Evergas

Rhea-AI Summary

Navigator Holdings Ltd. (NYSE: NVGS) announced that its joint venture, Dan-Unity CO2 A/S, received approval in principle for new CO2-carrying vessel designs from the American Bureau of Shipping. This move, involving 12,500 cubic metre and 22,000 cubic metre capacities provided by TGE Marine, marks a significant milestone in the development of CO2 carriers. Chief Commercial Officer Oeyvind Lindeman emphasized the importance of this achievement in advancing the joint venture's plans.

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• Approval from American Bureau of Shipping for new CO2-carrying vessel designs enhances Navigator's capability in the liquefied gas transportation sector.

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LONDON and NEW YORK, Nov. 24, 2021 (GLOBE NEWSWIRE) -- Navigator Holdings Ltd. (“Navigator”) (NYSE: NVGS), a leading provider of seaborne transportation and distribution of liquified gases, announced today that Dan-Unity CO₂ A/S (“Dan-Unity”), Navigator’s 50/50 joint venture with Evergas A/S (“Evergas”), received approval in principle from Classification Society American Bureau of Shipping for its new 12,500 cubic metre capacity and 22,000 cubic metre capacity CO₂-carrying vessel designs, provided by TGE Marine.

Oeyvind Lindeman, Navigator’s Chief Commercial Officer, commented:

“We are pleased to announce this important milestone which will enable Navigator’s Dan-Unity CO₂ joint venture to consider the next step in the process of developing these CO₂ carriers.”

About Us
Navigator Holdings Ltd. is the owner and operator of the world’s largest fleet of handysize liquefied gas carriers and a global leader in the seaborne transportation services of petrochemical gases, such as ethylene and ethane, liquefied petroleum gas (“LPG”) and ammonia and 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. On August 4, 2021, Navigator announced that it merged the fleet and business activities of Ultragas ApS with its own, adding an additional 18 vessels to the fleet. The transaction unites two leading gas shipping companies. Navigator’s combined fleet now consists of 55 semi- or fully-refrigerated liquefied gas carriers, 22 of which are ethylene and ethane capable. The Company plays a vital role in the liquefied gas supply chain for energy companies, industrial consumers and commodity traders, with its sophisticated vessels providing an efficient and reliable ‘floating pipeline’ between the parties, connecting the world today, creating a sustainable tomorrow.

Our latest CSR Report can be found in Annual Reports under the Company website at www. navigatorgas.com.

Navigator Gas
Attention:		Investor Relations investorrelations@navigatorgas.com
London:		10 Bressenden Place, London, SW1E 5DH.
Tel:		+44 (0)20 7340 4850

Investor Relations / Media Advisors
Nicolas Bornozis / Paul Lampoutis
Capital Link - New York
Tel: +1-212-661-7566
Email:   navigatorgas@capitallink.com

FAQ

What recent milestone did Navigator Holdings achieve with its joint venture Dan-Unity CO2 A/S?

Navigator Holdings announced that its joint venture, Dan-Unity CO2 A/S, received approval in principle for new CO2-carrying vessel designs from the American Bureau of Shipping.

What are the capacities of the new CO2-carrying vessels approved for Navigator Holdings?

The new CO2-carrying vessels have capacities of 12,500 cubic metres and 22,000 cubic metres.

Who is the Chief Commercial Officer of Navigator Holdings?

Oeyvind Lindeman is the Chief Commercial Officer of Navigator Holdings.

How does Navigator Holdings position itself in the liquefied gas transportation market?

Navigator Holdings operates the world's largest fleet of handysize liquefied gas carriers and is a leader in seaborne transportation services for petrochemical gases.