Navigator Holdings (NYSE: NVGS) signed definitive agreements to sell eight gas carriers and its 50% stake in the Unigas International joint venture. The transaction totals approximately $183 million. Bernhard Schulte Investment Holding and Sloman Neptun Schiffahrts-Aktiengesellschaft, existing partners in the Unigas Pool, are the buyers.
This strategic divestment aims to optimize the company's fleet and capital allocation. Navigator's fleet will decrease to 46 vessels following the sale. The company will concentrate on growing its handysize and midsize ethylene-capable carrier segments. Navigator expects to use the proceeds for general corporate purposes.
The transaction remains subject to customary closing conditions. Completion is expected by the fourth quarter of 2026. Navigator previously announced a non-binding letter of intent for the sale on April 15, 2026.