Navigating Towards a Greener Future: Navigator Gas and Amon Maritime Joint Venture

Navigator Holdings (Navigator Gas), a UK-based owner and operator of the ‘world’s largest’ fleet of Handysize liquefied gas carriers, has joined forces with Norwegian ammonia specialist and shipping company Amon Maritime in a groundbreaking joint venture.

Under the terms of the agreement, Navigator will acquire approximately 80% of the joint venture company, Navigator Amon Shipping AS, based in Norway, with Amon Maritime holding the remaining 20%, subject to specific investment terms and conditions.

The newly formed JV has ambitious plans to construct two 51,530 cubic meter capacity ammonia-fueled liquefied ammonia carriers, designed to also transport liquefied petroleum gas.

Contracts for the construction of these innovative vessels have been signed with China’s shipbuilder Nantong CIMC Sinopacific Offshore & Engineering, with deliveries scheduled for June and October 2028, at an average price of $84 million per vessel.

Both projects have received a NOK 90 million (approximately $9 million) investment grant from the Norwegian government agency Enova. Financing for the vessels’ purchase price is expected to come primarily from commercial bank finance, supplemented by capital contributions from the JV partners.

Upon delivery, each vessel will operate under Navigator Amon Shipping through long-term time charters with a blue-chip company, spanning five years from delivery, as per Navigator Gas.

“Expanding our fleet with two modern ammonia carriers capable of using clean ammonia as fuel, operating in long-term charters, is a strategic step towards meeting the increasing demand for a sustainable fuel source in a net-zero economy,” Mads Peter Zacho, CEO of Navigator, remarked.

“Amon Maritime was founded with a vision to lead the green shift in shipping through the use of ammonia fuel. We are proud to align this vision with Navigator Gas, providing ammonia-powered transportation services to market leaders. Constructing and operating these vessels further strengthens our relationship with Navigator Gas,” André Risholm, CEO of Amon Maritime, added.

𝐆𝐫𝐚𝐛 𝐭𝐡𝐞 𝐚𝐭𝐭𝐞𝐧𝐭𝐢𝐨𝐧 𝐨𝐟 𝐲𝐨𝐮𝐫 𝐭𝐚𝐫𝐠𝐞𝐭 𝐚𝐮𝐝𝐢𝐞𝐧𝐜𝐞 𝐚𝐧𝐝 𝐮𝐧𝐥𝐨𝐜𝐤 𝐬𝐚𝐯𝐢𝐧𝐠𝐬 𝐢𝐧 𝐨𝐧𝐞 𝐦𝐨𝐯𝐞 ⤵️

𝐇𝐮𝐫𝐫𝐲 𝐮𝐩 𝐚𝐧𝐝 𝐭𝐚𝐤𝐞 𝐚𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞 𝐨𝐟 𝐨𝐮𝐫 𝐰𝐢𝐧-𝐰𝐢𝐧 𝐬𝐮𝐦𝐦𝐞𝐫 𝐬𝐚𝐥𝐞 𝐝𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐟 𝐮𝐩 𝐭𝐨 𝟓𝟎% 𝐨𝐧 𝐚𝐝𝐯𝐞𝐫𝐭𝐢𝐬𝐢𝐧𝐠 𝐩𝐚𝐜𝐤𝐚𝐠𝐞𝐬 𝐛𝐲 𝐉𝐮𝐥𝐲 𝟑𝟏!