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Navigator reports profitable third quarter

Gas carrier Navigator Holdings improved its top and bottom line in the third quarter of the year, for which the company reports a profit.

Photo: Jose Alexandre Seba - Statoil

Navigator Holdings, which transports petrochemical products, finished the third quarter of the year with a higher revenue and a bottom line profit, according to the interim report from the company, which was previously owned by US Secretary of Commerce Wilbur Ross.

Revenue grew from USD 10.6 million in the same period last year to USD 80.8 million in the third quarter 2018, and the bottom line shows a profit of USD 623,000 compared to a deficit of USD 1.1 million in the third quarter last year. Looking at the year as a whole, the company remains in the red, as the first three quarters combined show a deficit of USD 1.8 billion.

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