Navigator Hldgs Ltd Stock Price, News & Analysis

Navigator Holdings Ltd. (NYSE: NVGS) announced that its subsidiary Navigator Gas L.L.C. received an Approval in Principle (AIP) for an ammonia-fueled gas carrier design from DNV AS. This achievement stems from collaboration with industry partners, including MAN Energy Solutions and Babcock International. The approval highlights the viability of using ammonia as fuel, which aims to reduce greenhouse gas emissions. This initiative aligns with Navigator's commitment to decarbonization and sustainable transportation solutions.

Navigator Holdings Ltd. (NVGS) has announced the retirement of David Butters as Executive Chairman, effective September 23, 2021. He will remain with the company as Chairman Emeritus. Dag von Appen has been appointed as the new Non-Executive Chairman. Butters, who served since August 2019, expressed confidence in the company's future. Von Appen, a recent board member since August 2021, emphasized the importance of integration with the Ultragas fleet for strengthening Navigator's position in liquefied gas transportation.

Navigator Holdings Ltd. (NYSE: NVGS) reported operating revenue of $85.9 million for Q2 2021, up from $82.5 million in Q2 2020. However, net income fell significantly to $0.3 million from $3.0 million, reflecting a 89.9% decline. Adjusted EBITDA decreased to $28.2 million from $31.9 million. Fleet utilization also declined to 85.4% from 88.3%. Notably, the company merged with Ultragas, adding 18 vessels to its fleet, while the ethylene export terminal reported increased throughput of 155,428 tons.

Navigator Holdings Ltd. (NYSE: NVGS) will release its financial results for Q2 2021 on August 16, 2021, after market close. A conference call will follow on August 17, 2021, at 10:00 A.M. ET. The call can be accessed via various dial-in numbers, with a replay available until August 24, 2021. The company operates the world's largest fleet of handysize liquefied gas carriers and has recently merged with Ultragas ApS, adding 18 vessels to its fleet, now totaling 56. Navigator plays a crucial role in liquefied gas transportation and supports the energy supply chain.

Navigator Holdings Ltd. (NYSE: NVGS) has successfully completed its merger with Naviera Ultranav Limitada to combine business operations, effective August 4, 2021. The merger creates a significant player in the gas shipping sector, expanding the fleet to 56 vessels valued at $1.3 billion. Key benefits include increased revenue potential, cost synergies, and enhanced geographical reach. Navigator issued approximately 21.2 million new shares, placing Ultranav's stake at 27.5%. The deal is expected to strengthen Navigator's market position and increase operational flexibility.

Marubeni and Navigator Gas announced the world's first carbon neutral ethylene voyage, conducted by the NAVIGATOR TRITON, which departed Houston on July 6, 2021, heading to Antwerp. The companies aim to offset CO₂ emissions through investment in a Cambodian environmental project focused on reducing deforestation. Marubeni, a major ethylene trader, plans to enhance its low carbon services in response to customer demand. This milestone reflects Navigator Gas's commitment to sustainability and a strategic focus on carbon reduction.

Navigator Holdings Ltd. (NYSE: NVGS) reported an operating revenue of $85.7 million for Q1 2021, up 5.5% from $81.3 million in Q1 2020. The company posted a net income of $2.8 million (EPS $0.05), reversing a net loss of $8.2 million from the previous year. Adjusted EBITDA rose 21.6% to $31.0 million. Fleet utilization slightly decreased to 88.2%. Four contracts were awarded for timecharters to support the Pembina Pipeline's new facility. A merger with Ultragas is anticipated to be completed in Q3 2021, expanding the fleet size significantly.

Navigator Holdings Ltd. (NVGS) will release its financial results for Q1 2021 on June 10, 2021, after market close. A conference call to discuss these results is scheduled for June 11, 2021, at 9:00 A.M. ET. Interested participants can join via a toll-free number or through a live webcast on the company’s website. Navigator operates the largest fleet of handysize liquefied gas carriers and is a leader in seaborne transportation services for petrochemical gases, enhancing connectivity in the liquefied gas supply chain.