Navigator Holdings Ltd. (Navigator Gas), owner and operator of the world’s largest fleet of handysize liquefied gas carriers, has signed definitive agreements to sell eight gas carriers and its stake in the Unigas International B.V. joint venture for a combined value of approximately $183 million. The transaction follows a previously announced non-binding letter of intent and marks a strategic move by the company to adjust its fleet and investment portfolio.
The eight Vessels to be sold as part of the Transaction are summarised in the table below:
| Vessel | Capacity (m3) | Year Built |
| Happy Pelican | 6,800 | 2012 |
| Happy Penguin | 6,800 | 2013 |
| Happy Condor | 9,000 | 2008 |
| Happy Osprey | 12,000 | 2013 |
| Happy Kestrel | 12,000 | 2013 |
| Happy Peregrine | 12,000 | 2014 |
| Happy Albatross | 12,000 | 2015 |
| Happy Avocet | 12,000 | 2017 |
existing partners in the Unigas Pool. The proceeds from the Transaction are expected to be used for general corporate purposes.
As previously announced, the Transaction is consistent with the Company’s ongoing focus on fleet optimization and disciplined capital allocation, and will allow it to focus on its long-term fleet strategy centred on growing and consolidating handysize and midsize ethylene-capable vessels.
The Transaction, which is subject to customary closing conditions, as well as delivery of the Vessels pursuant to it, is expected to be completed by the fourth quarter of 2026, after which the Company’s fleet will consist of 46 vessels, 16 of which will be ethylene and ethane capable.
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