Navigator Gas Partners With Amon Maritime To Build Two New Ammonia Carriers

Ammonia Gas Carriers — Image Credits: AMON MARITIME

Navigator Holdings Ltd., the company that owns and operates the world’s largest fleet of handysize liquefied gas carriers, has partnered with Amon Maritime, a Norwegian shipping company, to construct two new ammonia-fuelled gas carriers.

The agreement was signed on July 14, 2025. As part of this deal, a new company called Navigator Amon Shipping AS has been created. Navigator will hold around 80% ownership in this company, while Amon Maritime will hold the remaining 20%, depending on the investment terms and conditions.

The joint venture plans to build two modern liquefied gas vessels with a capacity of 51,530 cubic meters each. These ships will run on ammonia fuel and will also be capable of carrying LPG.

The vessels will be constructed by Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd., based in China. The first ship is expected to be delivered in June 2028, and the second in October 2028. The average cost per vessel is set at $84 million, making the total investment around $168 million.

Each of these vessel projects has received an investment grant of NOK 90 million (approximately $9 million) from Enova, a Norwegian government agency. Most of the construction costs will be financed through commercial bank loans.

The remaining amount will come from capital contributions by Navigator and Amon Maritime. Navigator plans to use its available cash resources to fund its share of the capital. These investments are expected to increase the company’s earnings.

Once the ships are delivered, and depending on standard conditions, they will begin service under long-term time charters with a well-known industry company. Each vessel will be on a five-year charter from the time of delivery.

According to Navigator’s Chief Executive Officer, Mads Peter Zacho, the expansion of the fleet with ammonia-fuelled ships is a key step in meeting the rising demand for cleaner fuels. He said that the new vessels will feature advanced technologies that meet environmental regulations.

Amon Maritime’s CEO, André Risholm, said the company was established to lead the shift toward green shipping using ammonia fuel. He stated that this joint project with Navigator Gas brings their mission closer to reality and strengthens their partnership.

Reference: navigatorgas

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