Navigator Gas Expands Ethylene Export Capacity and Fleet

Navigator Holdings ( (NVGS) ) has shared an update.

Navigator Gas has announced the completion of the expansion of its ethylene export terminal at Morgan’s Point, Houston, in partnership with Enterprise Products Partners L.P. This expansion, completed on time and within budget, significantly boosts the terminal’s capacity, allowing for increased ethylene exports to meet rising global demand. Additionally, Navigator Gas has agreed to acquire three handysize ethylene carriers to enhance its fleet, which will now total 59 vessels. These strategic moves are expected to strengthen Navigator Gas’ market position and potentially increase earnings in the coming years.

More about Navigator Holdings

Navigator Holdings Ltd., known as Navigator Gas, is a global leader in the seaborne transportation of petrochemical gases, including ethylene, ethane, liquefied petroleum gas (LPG), and ammonia. The company owns and operates the world’s largest fleet of handysize liquefied gas carriers and holds a 50% stake in an ethylene export terminal in Morgan’s Point, Texas, USA. Navigator Gas plays a crucial role in the liquefied gas supply chain, facilitating efficient and reliable transport for energy companies, industrial consumers, and commodity traders.

YTD Price Performance: -1.87%

Average Trading Volume: 177,342

Technical Sentiment Consensus Rating: Sell

Current Market Cap: $1.09B

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