Navigator Gas announces order for two new 48,500 cubic meter capacity liquefied ethylene gas carriers Page 1

LONDON, Aug. 23, 2024 (GLOBE NEWSWIRE) — Navigator Holdings Ltd. (hereinafter referred to as “Navigator Gas” or the “Company”) (NYSE: NVGS), the owner and operator of the world’s largest fleet of nimble liquefied gas carriers, announces that it has today entered into contracts (the “Contracts”) for the construction of two new 48,500 cubic meter capacity liquefied ethylene gas carriers (the “Newbuildings”) with Jiangnan Shipyard (Group) Co., Ltd. and China Shipbuilding Trading Co., Ltd., (collectively the “Sellers”) in China.

The Newbuild Vessels are expected to be delivered to the company in March 2027 and July 2027, respectively, at an average price of $102.9 million per vessel. The Newbuild Vessels will be able to transport a wide range of gas products, ranging from the most complex petrochemical gases, such as ethylene and ethane, to LPG and clean ammonia. The Newbuild Vessels will be equipped with dual-fuel engines for ethane, a transitional fuel with low carbon intensity, and will be prepared to use ammonia as a fuel in the near future. In addition, the Newbuild Vessels will be able to navigate through both the old and new locks of the Panama Canal, providing greater flexibility.