Navigator Holdings Ltd continues its drive to pioneer sustainability in the shipping sector and decarbonise the maritime supply chain by announcing its first carbon-neutral voyage.
Navigator Holdings Ltd. (“Navigator”) (NYSE: NVGS) announced today the first carbon-neutral Handysize LPG voyage. Navigator Capricorn, a 20,550cbm semi-refrigerated gas carrier, loaded LPG for U.S. midstream company Sunoco Partners Marketing & Terminal L.P. on 18th January 2021. The voyage commenced at the Marcus Hook export terminal located in Pennsylvania, U.S., and is set to transport cargo safely, reliably and efficiently across the Atlantic to Morocco. In collaboration with the Norwegian climate and technology company CHOOOSE, Navigator has committed to offset 1,068 metric tonnes of CO2 by supporting a UN-verified renewable energy project. The IslaSol Island Solar Power project in the Philippines is intended to bring daytime power to approximately 200,000 homes throughout the year, whilst focusing on reducing emissions in the region.
“Carbon reduction is a key strategic objective for our company and follows our mission of connecting the world today, creating a sustainable tomorrow,” said Oeyvind Lindeman, Chief Commercial Officer at Navigator. “We continuously strive to reduce our carbon emissions through innovations in the way we manage our company and in the way we operate our assets. Offsetting is one of several tools we choose to use in order to deliver a true carbon-neutral voyage. We are looking at ways to further promote and develop similar voyages in collaboration with our stakeholders whilst always keeping the UN’s Sustainable Development Goals in mind.”
In addition to industry-led technological and regulatory developments in reducing its carbon footprint, Navigator Gas looks forward to further harnessing the potential of similar projects in the future to provide carbon offsetting to its customers in an effort to abate the current carbon emissions associated with day-to-day shipping activities, whilst future solutions are developed and deployed.
“Navigator is taking the lead in applying new solutions to address the existing carbon footprint associated with seagoing vessels. Their effort marks a landmark change in the global maritime sector by moving from words to tangible action, and we believe many more will follow their example. At CHOOOSE, we are proud to be participating in this global change led by Navigator by building technology that makes the global maritime sector a part of the solution,” said Andreas Slettvoll, CEO and co-founder at CHOOOSE.
Navigator Holdings Ltd. is the owner and operator of the world’s largest fleet of Handysize liquefied gas carriers and a global leader in the seaborne transportation of petrochemical gases, such as ethylene and ethane, liquefied petroleum gas (“LPG”) and ammonia. We play a vital role in the liquefied gas supply chain for energy companies, industrial consumers and commodity traders, with our sophisticated vessels providing a safe, efficient and reliable ‘floating pipeline’ between the parties. Please visit www.navigatorgas.com for more information.
For further information:
Investor Relations Department – [email protected]
Oeyvind Lindeman, Chief Commercial Officer, +44 (0)20 7340 4575
Niall Nolan, Chief Financial Officer, +44 (0) 20 7340 4852