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NAVIGATOR HOLDINGS LTD. ANNOUNCES RESULTS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2016
07th Nov 16

Highlights

– Navigator Holdings Ltd. (NYSE: NVGS) (the “Company”, “we” or “our”) reports net income of $6.5 million for the three months ended September 30, 2016, with earnings per share of $0.12.

– Revenue was $69.7 million for the three months ended September 30, 2016.

– EBITDA was $30.4 million for the three months ended September 30, 2016.

– Took delivery of the first of our four midsize semi-refrigerated ethane/ethylene capable newbuilding vessels, on August 2, 2016 Navigator Aurora. This vessel will commence on a ten-year charter in December 2016.

– On October 8, 2016 Navigator Eclipse, the second of our four midsize semi-refrigerated ethane/ethylene capable vessels, was delivered. This vessel will commence a nine-month time charter in November 2016.

– On October 31, 2016, the Company entered into a new $220.0 million Facility Agreement to , among other things, refinance two existing facilities that mature in April 2017 and provide delivery financing of up to 70% for our newbuilding, Navigator Jorf.

– The Company has benefited from increasing demand for the transportation of petrochemicals gases, with the proportion of our total revenue from long-haul trade increasing from 20% in the first quarter to approximately 45% in the third quarter 2016.