Navigator Holdings (Navigator Gas), a UK-based owner and operator of the ‘world’s largest’ fleet of handysize liquefied gas carriers, has completed the acquisition of the final two of three new 17,000 cbm liquefied ethylene gas (LEG) carriers that the company committed to acquiring to complement the increased export capacity from its Morgan’s Point terminal in Houston, U.S.
Following the delivery of the first vessel, renamed Navigator Hyperion, as announced in February 2025, the remaining two vessels, renamed Navigator Titan and Navigator Vesta, were delivered on February 24, 2025, and March 17, 2025, respectively.
As informed, Navigator Hyperion is currently on charter, while Navigator Titan and Navigator Vesta are expected to soon be operating in the spot market.
Navigator Gas announced the completion of the expansion of its Morgan’s Point ethylene terminal, a joint venture with Enterprise Products Partners, and committed to buying three ethylene carriers in January 2025.
The transaction details were not disclosed, however, VesselsValue’s data showed that one carrier was acquired for $28.3 million and the other two for $29 million each. The units, built between 2009 and 2010, were, reportedly, acquired from the German shipping company Harpain Reederei in December 2024.
Following this acquisition, Navigator Gas will own and operate a fleet of 59 vessels, 28 of which will be ethylene and ethane-capable.