Navigator Holdings loses ground in first quarter

Significantly higher operating costs and a reduced net result in the first quarter from Navigator Holdings, which is controlled by major US investor Wilbur Ross.

Photo: Petredec

Navigator Holdings, which operates a fleet of 30 Handysize LPG vessels and which is controlled by US capital fund investor Wilbur Ross, emerged from the first quarter with a lower operating result and bottom line in comparison with the same period last year.

The reason can be found in significantly higher costs and lower utilization of vessels in the context of a significantly weaker market, according to the annual report from the company, published Tuesday.

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