LONDON, April 09, 2024 (GLOBE NEWSWIRE) -- Navigator Holdings Ltd. (described herein as “Navigator Gas” or the “Company”) (NYSE: NVGS), the owner and operator of the world’s largest fleet of handysize liquefied gas carriers, announces that on April 3, 2024, it successfully performed its first ship-to-ship transfer of ammonia.
Following a long history of the safe and successful liquified gas ship-to-ship transfers, Navigator Gas reaches a significant milestone in completing its first ship-to-ship transfer of anhydrous ammonia (NH3).
In a carefully planned and closely monitored operation lasting eleven hours, on April 3, 2024 Navigator Gas’ vessel, the “NAVIGATOR JORF”, a 38,000 cbm liquefied petroleum gas (‘LPG’) gas carrier, safely received 25,300 metric tonnes of NH3 from LPG tanker “ECO ORACLE”, whilst moored alongside in the Port of Ngqura, South Africa.
By showing that a ship-to-ship transfer of NH3 can be completed safely, reliably and efficiently, Navigator Gas expects this successful process will lead to future opportunities to utilise NH3 as an alternative fuel source and to facilitate the transition towards zero-emissions shipping.
Captain Vitaly Kostyuk, Master of “NAVIGATOR JORF”, stated:
“We implemented our comprehensive safety and risk management procedures to complete the transfer in a safe manner, in compliance with the regulations and port authority requirements.”
Mads Peter Zacho, Chief Executive Officer, commented:
“Completing this ship-to-ship transfer demonstrates the practical feasibility of ammonia bunkering and is an important step in supporting and driving the transition towards a viable carbon-free fuel source. It is our aim to put our full ammonia experience to work with our partners in demonstration projects, pilot projects and joint ventures so we accelerate the transition from fossil to carbon-free fuels.”
About Navigator Gas
Navigator Holdings Ltd. (described herein as “Navigator Gas” or the “Company”) is the owner and operator of the world’s largest fleet of handysize liquefied gas carriers and a global leader in the seaborne transportation services of petrochemical gases, such as ethylene and ethane, liquefied petroleum gas (“LPG”) and ammonia and owns a 50% share, through a joint venture, in an ethylene export marine terminal at Morgan’s Point, Texas on the Houston Ship Channel, USA. Navigator Gas’ fleet consists of 56 semi- or fully-refrigerated liquefied gas carriers, 25 of which are ethylene and ethane capable. The Company plays a vital role in the liquefied gas supply chain for energy companies, industrial consumers and commodity traders, with its sophisticated vessels providing an efficient and reliable ‘floating pipeline’ between the parties, connecting the world today, creating a sustainable tomorrow.
Navigator Gas’ common stock trades on the New York Stock Exchange under the symbol “NVGS”.
Category: General
Forward Looking Statements
This press release contains certain “forward-looking statements” as defined by the Securities and Exchange Commission. In some cases, you can identify the forward-looking statements by the use of words such as “may,” “could,” “should,” “would,” “expect,” “plan,” “aim,” “goal,” “anticipate,” “intend,” “forecast,” “believe,” “estimate,” “predict,” “propose,” “potential,” “continue,” “scheduled,” or the negative of these terms or other comparable terminology. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied by such statements, including required approvals by regulatory agencies, the possibility that the anticipated benefits from such activities, events, developments or transactions cannot be fully realized, the possibility that costs or difficulties related thereto will be greater than expected, the impact of competition, and other risk factors included in the periodic reports Navigator Gas files with the Securities and Exchange Commission.
All forward-looking statements included in this press release are made only as of the date of this press release. New factors emerge from time to time, and it is not possible for Navigator Gas to predict all of these factors. Further, Navigator Gas cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement. Navigator Gas expressly disclaims any obligation to update or revise any forward-looking statement, whether because of future events, new information, a change in its respective views or expectations, or otherwise. Navigator Gas does not make any prediction or statement about the performance of its respective common stock.
