Navigator Holdings Ltd. Announces Membership of Maritime Anti-Corruption Network

Rhea-AI Summary

Navigating towards integrity, Navigator Holdings Ltd. (NYSE: NVGS) has joined the Maritime Anti-Corruption Network (MACN), a global initiative aimed at reducing corruption in the maritime industry. CEO Mads Peter Zacho emphasized the company's dedication to ethical business practices. MACN CEO Cecilia Müller Torbrand welcomed Navigator, highlighting its significant role in the liquefied gas supply chain. The network consists of over 165 companies working together to promote transparency and integrity, setting the stage for a more sustainable maritime industry.

Positive

• Joining MACN reinforces Navigator's commitment to ethical business practices.
• Membership provides Navigator an opportunity to align with over 165 global maritime companies, enhancing its reputation.
• Collaborating with MACN may lead to improved operational efficiency and market positioning.

Negative

• None.

LONDON and NEW YORK, Sept. 01, 2022 (GLOBE NEWSWIRE) -- Navigator Holdings Ltd. (“Navigator”) (NYSE: NVGS), the owner and operator of the world’s largest fleet of handysize liquefied gas carriers, announced today that it has successfully joined the Maritime Anti-Corruption Network (“MACN”), a global business network dedicated to a maritime industry free of corruption.

Mads Peter Zacho, Navigator’s CEO, commented:

“Conducting business ethically is fundamental to the identity and core values of Navigator. Joining the Maritime Anti-Corruption Network demonstrates our commitment to carrying out business with honesty and integrity across all of our commercial activities.

“MACN’s vision to remove corruption from the maritime industry aligns strongly with our own values which aim for a fairer, more transparent and sustainable maritime industry. Navigator is proud to become part of this important network, alongside many of our peers across the globe.”

Cecilia Müller Torbrand, MACN’s CEO, said:

“I am pleased to welcome Navigator gas into MACN. Navigator Gas has an outstanding reputation and plays an important role in the global liquefied gas supply chain. Navigator’s work with energy companies, industrial users, and commodity traders globally will provide MACN with a valuable perspective on the gas sector. They are experts at connecting producers and end users and all aspects of integrated logistics and are well placed to help MACN promote integrity throughout the supply chain.”

About MACN
MACN is a global business network working towards the vision of a maritime industry free of corruption that enables fair trade to the benefit of society at large. Established in 2011 by a small group of committed maritime companies, MACN has grown to include over 165 companies globally, and has become one of the pre-eminent examples of collective action to tackle corruption.

MACN and its members work towards the elimination of all forms of maritime corruption by: raising awareness of the challenges faced; implementing the MACN Anti-Corruption Principles and co-developing and sharing best practices; collaborating with governments, non-governmental organizations, and civil society to identify and mitigate the root causes of corruption; and creating a culture of integrity within the maritime community.

More information may be found at https://macn.dk/.

About Navigator Gas
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. Navigator’s fleet consists of 53 semi- or fully-refrigerated liquefied gas carriers, 21 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.

Navigator’s common stock trades on the New York Stock Exchange under the symbol “NVGS”.

Navigator Gas
Attention:	Investor Relations investorrelations@navigatorgas.com and randy.giveans@navigatorgas.com
Address:	1201 Fannin St. Suite 262, Houston, Texas, U.S.A. 77002
Tel:	+1 713 373 6197 and +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 does Navigator Holdings Ltd. joining MACN mean for NVGS investors?

Joining MACN reflects Navigator's commitment to ethical operations, which may enhance investor confidence in NVGS.

When did Navigator Holdings Ltd. announce its membership in MACN?

Navigator announced its membership in the Maritime Anti-Corruption Network on September 1, 2022.

How does MACN aim to reduce corruption in the maritime industry?

MACN works by raising awareness, sharing best practices, and collaborating with various stakeholders to tackle maritime corruption.

What is the significance of Navigator's fleet in the maritime sector?

Navigator operates the world's largest fleet of handysize liquefied gas carriers, playing a crucial role in global gas transportation.