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Navigator Gas Announces Signing of $121.8 Million Financing for Two Newbuild Ammonia Carriers in Navigator Amon Joint Venture

NVGS
  • Navigator Holdings Ltd. announced that its joint venture subsidiary, Navigator Amon Shipping AS, entered a senior secured post-delivery term loan agreement with ING Bank N.V., Société Générale, \& Oversea-Chinese Banking Corporation Limited on July 31, 2026.
  • The $121.8 million Facility Agreement will finance up to 70% of the delivery cost for two 51,350 cubic metre ammonia-fuelled liquefied ammonia carriers capable of carrying LPG.
  • The two vessels are currently under construction at Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. in China, with delivery expected in May 2028 \& September 2028.
  • Pre-delivery payments \& the remaining delivery installments will be funded by the Borrowers' shareholders using cash resources.
  • The loan carries a six-year post-delivery tenor, is secured by mortgages on the vessels, \& accrues interest at SOFR plus 1.35%, payable quarterly.
  • Obligations under the agreement are guaranteed by Navigator Holdings Ltd. \& Navigator Amon Shipping AS.
  • Gary Chapman, CFO, stated the financing supports the company's ammonia growth strategy, disciplined capital allocation, \& balance sheet flexibility while investing in future ammonia transport markets.
  • Navigator Gas operates the world's largest fleet of handysize liquefied gas carriers \& holds a 50% share in an ethylene export terminal in Texas via a joint venture.
  • Amon Maritime is a privately owned company focused on pioneering ammonia-powered shipping to achieve a carbon-free shipping future.