Navigator Gas agrees to sell eight vessels and Unigas stake for $183M

Navigator Holdings Ltd. (NYSE: NVGS), known as Navigator Gas, signed definitive agreements on July 13, 2026, to sell eight liquefied gas carriers and its shareholding in the Unigas International B.V. joint venture for an aggregate purchase price of approximately $183 million.

The buyers are Bernhard Schulte Investment Holding GmbH and Sloman Neptun Schiffahrts-Aktiengesellschaft, which are the existing partners in the Unigas Pool. The transaction follows a non-binding letter of intent announced on April 15, 2026.

The eight vessels being sold range in capacity from 6,800 to 12,000 cubic meters and were built between 2008 and 2017. The vessels are the Happy Pelican, Happy Penguin, Happy Condor, Happy Osprey, Happy Kestrel, Happy Peregrine, Happy Albatross, and Happy Avocet.

The transaction is subject to customary closing conditions and is expected to be completed by the fourth quarter of 2026. Upon completion, Navigator Gas's fleet will consist of 46 vessels, 16 of which will be ethylene and ethane capable. The company currently operates a fleet of 54 vessels, 24 of which are ethylene and ethane capable.

Proceeds from the transaction are expected to be used for general corporate purposes, according to the company's press release statement.

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