Navigator Gas secures $121.8M loan for two ammonia carrier newbuilds

Navigator Holdings Ltd. (NYSE: NVGS), operating as Navigator Gas, announced that subsidiaries of its Navigator Amon Shipping AS joint venture signed a $121.8 million senior secured post-delivery term loan on July 31, 2026, to finance the construction of two ammonia-fueled liquefied ammonia carriers.

The facility was arranged with ING Bank N.V. (London Branch), Société Générale, and Oversea-Chinese Banking Corporation Limited. The loan covers up to 70% of the cost of the two vessels, each with a 51,350 cubic metre capacity. The ships are also capable of carrying liquefied petroleum gas and are being built by Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. in China under contracts signed in July 2025.

Delivery of the two vessels is expected in May 2028 and September 2028. Pre-delivery payments and the remaining delivery instalments will be funded by the shareholders of Navigator Amon Shipping AS, which is a joint venture between Navigator Gas and Amon Maritime.

The loan carries a six-year post-delivery tenor, with interest set at SOFR plus 1.35%, payable quarterly. The facility is secured by mortgages over the newbuild vessels and is guaranteed by Navigator Holdings Ltd. and Navigator Amon Shipping AS.

Gary Chapman, Chief Financial Officer of Navigator Gas, said the financing represents "a further important step in converting our ammonia growth strategy into a fully financed, commercially contracted investment."

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