Navigator Holdings Ltd. (NYSE:NVGS) announced a new partnership with Amon Maritime, forming Navigator Amon Shipping AS. The joint venture will build two ships in Norway using ammonia as fuel, with a capacity of 51,530 cubic meters each, costing around $84 million. The ships are expected to be delivered in 2028.

The Norwegian government’s agency, Enova, has granted NOK 90 million for each ship. Navigator Holdings Ltd. (NYSE:NVGS) plans to lease the ships to a major industry player on a 5-year contract. NVGS already operates a fleet of ships carrying liquefied gases like LPG and ammonia.

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Read more at Yahoo Finance: Navigator Holdings (NVGS) Announced a New Partnership with Amon Maritime