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Navigator Holdings Ltd. Preliminary Results For the Three Months Ended March 31, 2018
09th May 18

Navigator Holdings Ltd. Preliminary Results For the Three Months Ended March 31, 2018

 

Highlights

 *Navigator Holdings Ltd. (the “Company”) reported net income of $0.7 million and earnings per share of $0.01 for the three months ended March 31, 2018.

*EBITDA(1) was $30.5 million for the three months ended March 31, 2018.

*Maintained strong fleet utilization of 91.7% for the three months ended March 31, 2018.

*During the first quarter of 2018, the Company took an additional vessel into in-house technical management taking the total number of in-house managed vessels to ten.

*During the three months ended March 31, 2018, the Company made an initial capital contribution of $10.0 million in connection with the execution of definitive agreements relating to a 50/50 joint venture with Enterprise Products Partners L.P. to build a new ethylene marine export terminal along the U.S. Gulf Coast. The terminal will have the capacity to export approximately one million tons of ethylene per year and is expected to commence operation in the fourth quarter of 2019.