Navigator exercises option to build three LPG carriers

The three newbuildings are on top of one sister vessel already under construction at the Chinese yard.

The 35,000 cu m ethylene & ethane capable semi-refrigerated liquefied gas carriers are specifically designed in anticipation of large scale exports of ethane becoming available from surplus US shale gas production and the desire by international petrochemical companies to diversify their feedstock supplies with low cost US ethane, according to Navigator.

The LPG carriers will be equipped with dual fuel engines, reducing running costs through optimised propulsion systems, and together with larger carrying capacities, will offer greater economies of scale.

Following its exercise of this option, Navigator has 13 vessels in its newbuilding program, four of which are scheduled for delivery in late 2014, four in 2015 and five in 2016.