Navigator Gas has partnered with Amon Maritime to form a joint venture, Navigator Amon Shipping, aimed at constructing two ammonia-fuelled gas carriers. Navigator will hold an 80% stake, while Amon Maritime retains 20%, pending investment agreements. The new vessels will have a capacity of 51,530m³ and will also be able to transport liquefied petroleum gas.
Construction contracts have been secured with Nantong CIMC Sinopacific Offshore & Engineering at an average cost of $84 million per vessel. Navigator CEO Mads Peter Zacho emphasized that these modern carriers will utilize clean ammonia as fuel, aligning with the increasing demand for sustainable energy solutions in a net-zero economy. Each vessel is expected to meet current and future environmental regulations, providing significant value to customers and shareholders.
Scheduled for delivery in June and October 2028, the projects have received approximately $9 million in investment grants from Enova, a Norwegian government agency. Most financing will come from commercial banks, supplemented by contributions from both partners. Amon Maritime CEO André Risholm expressed pride in advancing the green shift in shipping through ammonia fuel, reinforcing their collaboration with Navigator Gas.
