Navigator Holdings Ltd., the owner and operator of the world’s largest fleet of handysize liquefied gas carriers, is pleased to announce its fifth and final vessel acquisition planned under its 60/40 joint venture agreement with Greater Bay Gas Co. Ltd. (Liberia) (“Greater Bay Gas”), previously announced on September 30, 2022 (the “Joint Venture”). The Joint Venture announced the purchase of the first four vessels between December 20, 2022 and March 27, 2023.

The final vessel, renamed the Navigator Vega, is a 22,000 cbm liquefied ethylene gas carrier built in 2019 and was delivered today. As previously stated, all five vessels will continue to be commercially managed under the Luna Pool collaboration arrangement, and technical management will be provided by the third-party technical manager, PG Shipmanagement Pte. Ltd. of Singapore.

This fifth delivery concludes the first multi-vessel acquisition under the Joint Venture, which was announced in September 2022 and has been completed considerably ahead of the anticipated fifteen-month delivery schedule.

About Greater Bay Gas

Greater Bay Gas is a gaseous product logistic service provider based in the heart of the Shenzhen Greater Bay Area, China. It currently operates the fleet of five modern semi-pressurized and semi-refrigerated ethylene and ethane gas carriers that are expected to be acquired by the Joint Venture. It aims to develop its core business through global strategic partnerships to serve increasing demand for shipping and related logistics of gaseous product worldwide.

Greater Bay Gas Co. Ltd. (HK) was founded primarily by Equator Fund Limited, which is a maritime-focused fund, having its headquarters in the Municipality of Shenzhen, with offices in Hong Kong and Shanghai, China.
Source: Navigator Holdings Ltd.