Navigator Hldgs Ltd Stock Price, News & Analysis

Navigator Holdings Ltd. (NYSE: NVGS) has announced the acquisition of two additional vessels in its joint venture with Greater Bay Gas Co. Ltd. The vessels, named Navigator Castor and Navigator Equator, were delivered on March 23 and March 27, 2023, respectively. Both are 22,000 cbm liquefied ethylene gas carriers built in 2019. Following these deliveries, the joint venture plans to acquire a final vessel soon. All vessels will be managed under the Luna Pool collaboration, with technical management by PG Shipmanagement Pte. Ltd. of Singapore. This acquisition strengthens Navigator's position in the liquefied gas transportation sector.

Navigator Holdings Ltd. (NYSE: NVGS) reported operating revenue of $123.3 million for Q4 2022, a decline from $132.3 million in Q4 2021. For the full year, revenue rose to $473.8 million from $406.5 million in 2021. Net income shifted to $10.3 million (EPS: $0.13) compared to a net loss of $40.2 million (loss per share: $0.53) in the prior year. Fleet utilization increased to 94.1%, while adjusted EBITDA remained consistent at $59.4 million. The company has initiated a share repurchase program, acquiring 2 million shares for $25.4 million. Furthermore, an expansion project at their Ethylene Export Terminal is expected to increase throughput capacity significantly by 2024.

Navigator Holdings Ltd. (NYSE: NVGS) announced it will release its financial results for the three and twelve months ended December 31, 2022, before markets open on March 20, 2023. A Zoom conference call for discussing the results will be held on March 21, 2023, at 10:00 A.M. EDT. Participants can register for the call and view the presentation online. Navigator operates the largest fleet of handysize liquefied gas carriers globally, playing a critical role in the transportation of petrochemical gases. The company owns a 50% stake in an ethylene export terminal in Morgan's Point, Texas, further solidifying its position in the liquefied gas supply chain.

Navigator Holdings Ltd. (NYSE: NVGS) announced details on its Expansion Project, which is part of its joint venture with Enterprise Products Partners L.P. at Morgan’s Point, Texas. The project aims to increase ethylene export capacity by 550,000 to 2 million tons per year and triple ethylene refrigeration capacity from 125 to 375 tons per hour. Navigator plans to contribute approximately $120-130 million to the Joint Venture, funded through cash and potential debt financing. Completion of the project is subject to risks and uncertainties.

Navigator Holdings Ltd. (NYSE: NVGS) has announced the acquisition of the second vessel under its joint venture with Greater Bay Gas Co. Ltd. This new acquisition consists of the Navigator Solar, a 17,000 cbm liquefied ethylene gas carrier, delivered on January 16, 2023. The joint venture aims to acquire a total of five vessels, with three additional 22,000 cbm carriers expected within the next year. Commercial management continues under the Luna Pool, with technical management provided by PG Shipmanagement. Navigator remains a leader in liquefied gas transportation, operating the largest fleet of handysize carriers globally.

Navigator Holdings Ltd. (NYSE: NVGS) will participate in Capital Link's Corporate Presentations Webinar on January 10, 2023, at 11 AM ET. The senior management team will discuss the company's operations, growth prospects, and the LPG market outlook. Interested participants can register for the webinar to gain insights into Navigator's strategic plans and submit questions during the live session. Navigator, known for its extensive fleet of handysize liquefied gas carriers, plays a crucial role in the transportation of petrochemical gases worldwide.

Navigator Holdings Ltd. (NYSE: NVGS) announced the full repayment of its NOK 600 million senior secured bond on December 23, 2022. The bonds were repaid at 101.79% of par value plus accrued interest. This move highlights the company's strong financial management and reduces its debt obligations, potentially improving its financial stability. Navigator operates the world’s largest fleet of handysize liquefied gas carriers and plays a key role in the transportation of petrochemical gases, contributing to a reliable supply chain for various industries.

Navigator Holdings Ltd. (NYSE: NVGS) has announced the acquisition of its first vessel in a 60/40 joint venture with Greater Bay Gas Co. Ltd. This vessel, named Navigator Luna, is a 17,000 cbm liquefied ethylene gas carrier built in 2018. The joint venture plans to acquire four additional vessels over the next year, which will be managed by the Luna Pool collaboration. To finance this venture, a six-year secured term loan of $151.3 million has been secured, covering 65% of the vessels' expected aggregate value.

Navigator Holdings Ltd. (NYSE: NVGS) announced a secured loan and revolving credit facility of up to $111.81 million on December 7, 2022. This funding aims to refinance an existing loan of $33.3 million from January 2015 and for general corporate purposes. The loan, drawing scheduled for December 12, 2022, has a quarterly interest of SOFR plus 209 basis points, with a balloon payment of $65 million due on December 7, 2028. Following this, the company will redeem its 600 million NOK senior secured bond, set for repayment on December 23, 2022.