Navigator Holdings’ improved vessel utilisation during fourth quarter of 2020

Navigator Holdings’ improved vessel utilisation during fourth quarter of 2020

Navigator Holdings Ltd reported operating revenue of $87.4 million for the three months ended December 31, 2020, compared to $76.1 million for the three months ended December 31, 2019.

Operating revenue for the year ended December 31, 2020 amounted to $332.5 million, compared to $301.4 for the year ended December 31, 2019.

Net income was $3.4 million (earnings per share of $0.06) for the three months ended December 31, 2020, the third consecutive profitable quarter. The net loss for the year ended December 31, 2020 was $0.4 million.

Adjusted EBITDA was $32.0 million for the three months ended December 31, 2020, comprising $29.9 million from the operations of the vessels and $2.1 million from our 50/50 joint venture relating to the ethylene export marine terminal at Morgan’s Point, Texas.

Adjusted EBITDA was $124.2 million for the year ended December 31, 2020, comprising $118.4 million from the operations of the vessels and $5.8 million the export terminal joint venture.

Fleet utilisation was 91.0 percent for the three months ended December 31, 2020, and 86.8 percent for the year ended December 31, 2020.

It also successfully completed and commissioned the 30,000 ton ethylene cryogenic storage tank at its Marine Export Terminal, “finishing the project safely, on time and below budget”.

For more information visit navigatorgas.com

22nd March 2021