Navigator Holdings Ltd.
navigatorgas.comWhat Do They Do?
Transports liquefied petroleum gas, petrochemical gases and ammonia by sea for energy companies and utilities, industrial users, and commodity traders.
20-F for FY2025, filed Mar 12, 2026We play a vital role in the liquefied gas supply chain for energy companies, industrial consumers and commodity traders, with our…View ↗
We also carry petrochemical gases for numerous industrial users. Petrochemical gases, including ethylene, propylene, butadiene and vinyl…View ↗
We provide seaborne transportation and distribution services for LPG, ethane, ethylene, petrochemical gases and ammonia to:View ↗
How Do They Make Money?
Time-charter customers pay hire in advance; voyage-charter and contract-of-affreightment customers pay for cargo transport when it is discharged.
20-F for FY2025, filed Mar 12, 2026
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20-F for FY2025, filed Mar 12, 2026
FY2025 revenue by product or service (Operating revenues) ↗
$587M
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20-F for FY2025, filed Mar 12, 2026
$587M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Time charters
Recurring
20-F for FY2025, filed Mar 12, 2026 |
67%
FY2022: 52%
|
Time charters, FY2025
$360.3M Sources
|
Recurring |
|
Voyage charters
Sold outright
20-F for FY2025, filed Mar 12, 2026 |
33%
FY2022: 34%
|
Voyage charters, FY2025
$178.1M Sources
|
Sold outright |
Who Are Their Customers?
Energy companies and state-owned utilities, industrial users, and commodity traders charter vessels to move liquefied petroleum gas, petrochemical gases, and ammonia.
20-F for FY2025, filed Mar 12, 2026We play a vital role in the liquefied gas supply chain for energy companies, industrial consumers and commodity traders, with our…View ↗
We also carry petrochemical gases for numerous industrial users. Petrochemical gases, including ethylene, propylene, butadiene and vinyl…View ↗
Major Oil and Gas Companies, such as ExxonMobil, ENI, BP, Shell and Phillips 66; Sonatrach, the national oil and gas company of Algeria and…View ↗
Our chartering strategy is to combine both short and long-term time charters and COAs and voyage charters, as well as employing our smaller…View ↗
20-F for FY2025, filed Mar 12, 2026
The Company derives a significant portion of its revenues from a limited number of customers. During 2025, one of our charterers…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 17 cents of every revenue dollar as net income in FY2025 and turned 20 cents into free cash flow.
20-F for FY2025, filed Mar 12, 2026
$165.4MView ↗
20-F for FY2025, filed Mar 12, 2026
$100.1MView ↗
20-F for FY2025, filed Mar 12, 2026
$116.6MView ↗
How Are They Changing?
Growing. Revenue grew 44% in 4 years, from $406.5M in FY2021 to $587M in FY2025, about 10% a year.
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