Navigator Gas Releases 2024 Sustainability Report

Rhea-AI Summary

Navigator Gas (NYSE: NVGS), the world's largest handysize liquefied gas carrier fleet operator, has released its 2024 Sustainability Report. The report highlights the company's key sustainability initiatives including: significant investments in energy efficiency technologies like anti-fouling hull coatings and propeller boss cap fins, partnerships with Azane Fuel Solutions and Ten08 for blue ammonia projects, and CO2 transportation initiatives. The company is expanding its Morgan's Point Terminal with plans to implement cold ironing capabilities. Navigator Gas maintains strong financial performance while investing in low-carbon infrastructure and focusing on improving gender balance, staff development, and maintaining high business integrity standards. CEO Mads Peter Zacho emphasized sustainability as integral to the company's long-term strategy and highlighted the opportunities presented by the energy transition.

Positive

• Investment in multiple energy efficiency technologies to reduce environmental impact
• Strategic partnerships for blue ammonia and CO2 transportation projects
• Morgan's Point Terminal expansion with cold ironing capabilities
• Maintained financial strength while investing in low-carbon infrastructure

Negative

• None.

LONDON, May 07, 2025 (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 the publication of its 2024 Sustainability Report.

The document, which is available on our website in the ‘Investors Centre’ section under ‘Financials’ then ‘Annual Reports’, provides a comprehensive overview of our continued commitment to sustainable operations. It details Navigator Gas’ efforts to reduce its environmental impact, improve diversity, and implement high standards of corporate governance by conducting our business responsibly and ethically.

Some highlights from our 2024 Sustainability Report include:

• The significant investments we are making in energy efficiency technologies, such as anti-fouling hull coatings, propeller boss cap fins, trim optimisation, digitalisation, fuel optimisation and alignment with industry decarbonisation frameworks.
• The progress we are making in several partnerships and collaborations, including Azane Fuel Solutions, Ten08 blue ammonia and projects around CO2 transportation.
• Our Morgan’s Point Terminal expansion, leading to an increased export capacity with plans to introduce capabilities to connect seagoing vessels to onshore power (cold ironing) to further reduce fuel consumption and consequent emissions whilst alongside.
• Our ability to maintain our financial strength and profitability whilst investing in low-carbon infrastructure.
• The approach we have taken towards improving gender balance, training and professional development of our seagoing and shore-based staff, occupational health, safety and wellbeing.
• How we maintain and uphold high standards of business integrity and ethical conduct, both within Navigator Gas, and the efforts we are making to improve the visibility of potential sustainability risks within our supply chain.

Mads Peter Zacho, CEO of Navigator Gas, commented:

“At Navigator, sustainability is integral to our long-term business strategy and vision. 2024 has been a year of continued progress. I’m proud of the headway we have made in improving fuel efficiency across the fleet, our collaborations through partnerships such as Azane Fuel Solutions, Ten08 and BlueStreak. It is my firm belief that capitalising on the opportunities that the energy transition presents to us is going to be a key driver of our continued success. Our team has compiled this comprehensive report, outlining our key activities supported with data, and I hope that you enjoy reading it.”

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 59 semi- or fully-refrigerated liquefied gas carriers, 28 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”.

For media enquiries or further information, please contact:

Alexander Walster
Head of ESG & Communications
Email: communications@navigatorgas.com
Verde, 10 Bressenden Place, London, SW1E 5DH, UK
Tel: +44 (0)7857 796 052, +44 (0)20 7045 4114

Navigator Gas Investor Relations
Email: investorrelations@navigatorgas.com, randy.giveans@navigatorgas.com
333 Clay Street, Suite 2400, Houston, Texas, U.S.A. 77002
Tel: +1 713 373 6197, +44 (0)20 7340 4850

Investor Relations / Media Advisors
Nicolas Bornozis / Paul Lampoutis
Capital Link – New York
Tel: +1-212-661-7566
Email: navigatorgas@capitallink.com   

Forward Looking Statements

This press release contains certain forward-looking statements concerning plans and objectives of management for future operations or economic performance, or assumptions related thereto, including statements relating to Navigator Gas’ strategy for sustainability.

In addition, we and our representatives may from time to time make other oral or written statements that are also forward-looking statements. Such statements include, in particular, statements about our plans, strategies, business prospects, changes and trends in our business and the markets in which we operate.

In some cases, you can identify the forward-looking statements by the use of words such as “may,” “could,” “should,” “would,” “expect,” “plan,” “seek,” “target,” “aim,” “become,” “anticipate,” “intend,” “forecast,” “believe,” “estimate,” “predict,” “propose,” “potential,” “continue,” “scheduled,” or the negative of these terms or other comparable terminology.

These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, but are not limited to, those set forth 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 us to predict all these factors. Further, we cannot assess the impact of each such factor on our 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.

We expressly disclaim any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in our views or expectations, or otherwise. We make no prediction or statement about the performance of our common stock.

Category: General

FAQ

What sustainability initiatives has Navigator Gas (NVGS) implemented in 2024?

Navigator Gas implemented energy efficiency technologies like anti-fouling hull coatings and propeller boss cap fins, partnered with Azane Fuel Solutions and Ten08 for blue ammonia projects, expanded Morgan's Point Terminal, and focused on improving gender balance and staff development.

How is Navigator Gas (NVGS) addressing environmental concerns in its operations?

The company is investing in energy efficiency technologies, implementing cold ironing capabilities at Morgan's Point Terminal, and developing partnerships for blue ammonia and CO2 transportation projects to reduce environmental impact.

What expansion plans does Navigator Gas (NVGS) have for Morgan's Point Terminal?

Navigator Gas is increasing export capacity at Morgan's Point Terminal and plans to implement cold ironing capabilities to reduce fuel consumption and emissions for vessels alongside.

What partnerships has Navigator Gas (NVGS) formed for sustainability initiatives?

Navigator Gas has formed partnerships with Azane Fuel Solutions and Ten08 for blue ammonia projects, and is involved in CO2 transportation initiatives.