Navigator Gas Orders New Vessels from Chinese Shipyard

Navigator Gas reported that it has entered into agreements to construct one 21,000 cubic meter semi-refrigerated ethylene gas carrier and two 22,000 cubic meter semirefrigerated gas carriers for a combined price of approximately $138 million.

In addition the company has options to construct a further two 22,000 cubic meter semi-refrigerated gas carriers, exercisable by October 2013. All vessels will be constructed by Jiangnan Shipyard (Group) Co Ltd. in China, and are scheduled for delivery during 2015.

The newbuildings have been designed to maximize their fuel efficiency by incorporating many of the latest eco-design technological improvements to reduce fuel consumption and thereby emissions, such as electronically controlled engines, more efficient hull forms, energy efficient propellers, decreased hull resistance and the capability of converting the vessels to use LNG as fuel.

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Navigator Gas, July 25, 2013