New York-listed Navigator Holdings has agreed to buy three liquefied ethylene carriers complementing the recently expanded export terminal at Morgan’s Point in Texas. The world’s top player in the handysize LPG carrier segment is buying the German-built 17,000 cu m trio from an unnamed seller for $83.9m. The vessels were not named, but S&P databases show three ships with similar descriptions: the 2009-built Gaschem Pacific and the 2010-built Gaschem Adriatic and Gaschem Antarctic sold in December to undisclosed buyers. The company said it expects to take delivery of the vessels between February and May 2025, at the latest, after which the fleet will consist of 59 ships, 28 of which will be ethylene and ethane-capable. The vessels will operate in the spot market upon, or soon after, delivery, Navigator noted. The company owns the Morgan’s Point ethylene export terminal in a 50-50 joint venture with Enterprise Products Partners. The operation was expanded in late December, with export capacity expected to increase by at least 550,000 tonnes to 1.55m tonnes per year starting in 2025, and potentially up to a total of 3.2m tons per year in the coming years. “Future demand for competitively priced US ethane and ethylene is likely to continue its upward trajectory in the coming years. The ethylene export terminal expansion and the addition of three handysize ethylene carriers to our fleet provide us with key capabilities and infrastructure to meet that growing demand, said Mads Peter Zacho, CEO of Navigator Gas. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsUnited Kingdom