Image credit: Navigator Gas.

Navigator Holdings Ltd, known for operating the world’s largest fleet of handysize liquefied gas carriers,on August 23, has announced a significant expansion of its fleet. The company has secured contracts with Jiangnan Shipyard (Group) Co., Ltd. and China Shipbuilding Trading Co., Ltd. for the construction of two new liquefied ethylene gas carriers.

The contracts, valued at an average of $102.9 million per vessel, stipulate that the new carriers will each have a capacity of 48,500 cubic meters. Scheduled for delivery in March 2027 and July 2027, these vessels will be equipped to transport a diverse range of gas products, including complex petrochemical gases such as ethylene and ethane, as well as LPG and clean ammonia.

The vessels will feature dual-fuel engines capable of running on ethane, a low-carbon transitional fuel, and will be retrofit-ready for future ammonia use. They will also be designed to navigate both the existing and expanded Panama Canal locks, enhancing operational flexibility. Additionally, Navigator Holdings has secured an option for two more vessels of the same specification, with potential delivery dates in November 2027 and January 2028, contingent on the exercise of this option.