The New York Stock Exchange-listed shipowner reported a second quarter net profit of $19.7m compared to $11.5m in the same period in 2013. Revenues for the second quarter were up 25.8% at $76.1m compared to $60.5m in the same quarter a year earlier.
The company said this was, “primarily as a result of the increase in the number of vessels in our fleet, increased charter rates and improved utilisation”.
Navigator Holdings has a fleet of 36 gas carriers with 12 more on order and due for delivery between 2014 and 2016.
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