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Tankers: Ethane carriers ordered

Liquefied gas carrier operator Navigator Holdings Ltd has exercised its last remaining option to construct a 22,000m3 capacity gas carrier at China’s Jiangnan Shipyard at a previously agreed construction price of $44 million for delivery by March 2016. Navigator has also entered into a contract with Jiangnan for the construction of a larger 35,000m3 gas carrier for delivery in April 2016.

This contract contains an option agreement for the construction of up to three additional 35,000m3 vessels, all in anticipation of large scale exports of ethane becoming available from surplus US shale gas production. Navigator’s current fleet consists of 33 semi- or fully-refrigerated liquefied gas carriers, including ten newbuildings. JS

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