Navigator Holdings Ltd. secured up to $205.8 million in financing for two newbuild liquefied gas carriers. Shipyards in China are currently constructing the vessels for a scheduled 2027 delivery.
The arrangement combines a secured pre-delivery term loan with a long-term Japanese Operating Lease with Call Option (JOLCO). A $164.6 million secured loan will cover initial pre-delivery construction costs.
The $205.8 million JOLCO sale and leaseback structure will refinance this loan upon vessel delivery. This agreement completes the funding for four of the six newbuild vessels currently on order.