Core Viewpoint - Navigator Holdings Ltd. has entered into a joint venture with Amon Maritime to construct two ammonia-fueled liquefied ammonia carriers, enhancing its fleet and supporting the transition to sustainable fuel sources in shipping [1][2][5]. Group 1: Joint Venture Details - Navigator will acquire approximately 80% of the joint venture company, Navigator Amon Shipping AS, with Amon Maritime holding about 20% [2]. - The joint venture plans to build two new vessels with a capacity of 51,530 cubic meters, which will also be capable of carrying liquefied petroleum gas [2]. - Contracts have been signed with Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. for the construction of the vessels, with deliveries expected in June and October 2028 at an average price of $84 million per vessel [3]. Group 2: Financial Aspects - Each vessel project has received a NOK 90 million (approximately $9 million) investment grant from the Norwegian government agency Enova [3]. - The joint venture will finance the majority of the vessel purchase price through commercial bank financing, with the remainder sourced from capital contributions from Navigator and Amon Maritime [3]. - Navigator plans to finance its share of capital contributions from available cash resources, and these investments are expected to be accretive to the company's earnings [3]. Group 3: Operational Plans - Upon delivery, the vessels will be operated under long-term time charters with a blue-chip industry leader for a period of five years [4]. - The vessels will utilize clean ammonia as fuel, aligning with the growing demand for sustainable fuel sources in a net-zero economy [5]. Group 4: Company Background - Navigator Holdings Ltd. operates the world's largest fleet of handysize liquefied gas carriers and is a leader in the transportation of petrochemical gases, including ethylene, ethane, liquefied petroleum gas, and ammonia [7]. - The company plays a crucial role in the liquefied gas supply chain, providing efficient and reliable transportation services [7].