A shipping company that moves liquefied gases by sea, Navigator Holdings (known as Navigator Gas) owns one of the world's largest fleets of "handysize" gas carriers — refrigerated, mid-sized vessels that ferry ethylene, ethane, LPG, and ammonia for petrochemical companies. Founded in 1997 on the Isle of Man, it hit early financial trouble and filed for Chapter 11 in 2002, then emerged from a 2006 restructuring that became a Harvard Business School case study before growing into the biggest owner of handysize gas ships.
Navigator Holdings reports Q2 2026 results with fleet expansion and new financings
Navigator Holdings Ltd. reported financial results for the three and six months ended June 30, 2026, including unaudited condensed consolidated financial statements.
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The company entered into a June 2026 pre-delivery secured term loan and a Japanese operating lease with call option (JOLCO) financing for an ethylene carrier.
In July 2026, Navigator secured a post-delivery senior secured term loan for ammonia carriers and amended its May 2025 senior secured term loan and revolving credit facility.
The company's fleet includes vessels in operation and newbuilds, with time charter and voyage charter agreements as of June 30, 2026.
Navigator Holdings is involved in joint ventures including Navigator Greater Bay, Amon, and Enterprise Navigator Ethylene Terminals, and has related-party transactions with Luna Pool Agency and Ultranav Business Support.
Navigator Holdings signs $121.8M loan to finance two ammonia carriers
On July 31, 2026, Navigator Amundsen AS and Navigator Archer AS entered into a senior secured post-delivery term loan with ING Bank, Société Générale, and Oversea-Chinese Banking Corporation.
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The facility provides up to $121.8 million, covering up to 70% of the cost of two 51,350 cbm ammonia/LPG carriers under construction in China.
The vessels are expected to deliver in May 2028 and September 2028, with pre-delivery payments and remaining costs funded by borrower cash resources.
The loan has a six-year post-delivery tenor, bears interest at SOFR plus 1.35% payable quarterly, and is secured by vessel mortgages.
Obligations are guaranteed by Navigator Holdings and Navigator Amon Shipping AS, with standard conditions, covenants, and events of default.
Navigator Holdings signs definitive agreements to sell eight gas carriers and Unigas stake for ~$183M
The aggregate purchase price is approximately $183 million.
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On July 13, 2026, Navigator Holdings signed definitive agreements to sell eight gas carriers and its shareholding in the Unigas International B.V. joint venture.
The buyers are Bernhard Schulte Investment Holding GmbH and Sloman Neptun Schiffahrts-Aktiengesellschaft, existing partners in the Unigas Pool.
The transaction is expected to close by the fourth quarter of 2026, subject to customary closing conditions and vessel delivery.
After completion, Navigator's fleet will consist of 46 vessels, 16 of which will be ethylene and ethane capable.
Navigator Gas signs $205.8M financing for two newbuild gas carriers, including first JOLCO sale leaseback
Navigator Holdings Ltd. announced on June 18, 2026, that subsidiaries entered financing arrangements for two newbuild gas carriers under construction in China by Jiangnan Shipyard and China Shipbuilding Trading, with delivery expected in 2027.
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A secured pre-delivery bridge facility of up to $164,640,000 was signed with BNP Paribas (Tokyo Branch), financing up to 80% of pre-delivery instalments.
On delivery, the bridge facility will be refinanced into a $205,800,000 long-term sale and leaseback under a Japanese Operating Lease with Call Option (JOLCO), Navigator Gas's first use of this structure.
Under the JOLCO, the vessels will be sold to special purpose Lessor Owners and bareboat chartered back to Navigator Polaris L.L.C. and Navigator Proxima L.L.C., with Navigator Gas retaining full operational control and purchase options up to 8.5 years after delivery.
The financing completes funding for four of six newbuild vessels on order, with financing for the remaining two progressing, according to CFO Gary Chapman.
Navigator Holdings announces results of 2026 Annual General Meeting, elects six directors and ratifies PwC as auditor.
Shareholders elected Dag von Appen, Dr. Heiko Fischer, Janette Marx, Dr. Anita Odedra, Peter Stokes, and Florian Weidinger to the Board until the 2027 AGM.
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The 2026 Annual General Meeting was held on June 15, 2026, at 9 a.m. local time in New York.
The appointment of PricewaterhouseCoopers LLP as independent auditor for fiscal year ending December 31, 2026, was ratified.
Navigator Gas operates the world's largest fleet of handysize liquefied gas carriers, with 54 vessels, and owns a 50% stake in an ethylene export terminal in Texas.
Navigator Holdings announces 2026 Annual General Meeting to be held June 15, 2026
The 2026 Annual General Meeting of Shareholders will be held on June 15, 2026, at 09:00 A.M. local time at Baker Botts L.L.P., 30 Rockefeller Plaza, New York, NY.
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Shareholders will vote on electing directors to serve until the 2027 Annual Meeting (Proposal One) and ratifying PricewaterhouseCoopers LLP as independent auditor for fiscal year 2026 (Proposal Two).
The record date for voting is May 4, 2026, with 61,721,879 common shares outstanding and entitled to vote.
The board of directors has nominated six individuals: Dag von Appen, Dr. Heiko Fischer, Janette Marx, Dr. Anita Odedra, Peter Stokes, and Florian Weidinger.
Proxy materials were mailed on or about May 11, 2026, and are available on the company's website and SEC's website.
Navigator Holdings signs non-binding LOI to sell eight gas vessels and Unigas stake for ~$183M
Navigator Holdings Ltd. (NYSE: NVGS) signed a non-binding letter of intent on April 14, 2026, to sell eight small gas vessels and its shareholding in the Unigas International B.V. joint venture to Bernhard Schulte (Singapore) Holdings Pte. Ltd. and Sloman Neptun Schiffahrts-Aktiengesellschaft.
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The aggregate purchase price is approximately $183 million, with proceeds expected to be used for general corporate purposes.
The vessels, with an average age of 13 years, are considered non-core tonnage; the sale aligns with the company's fleet optimization and focus on handysize and midsize ethylene-capable vessels.
The transaction is subject to execution of definitive documentation, board approvals, regulatory approvals, and other customary conditions, with closing anticipated by the fourth quarter of 2026.
Upon completion, Navigator Gas's fleet will decrease from 55 to 47 liquefied gas carriers, and the company will fully exit the Unigas Pool.