New York-listed Navigator Holdings is expanding its fleet with a pair of 48，500 cum liquefied ethylene gas carriers newbuilds.

The world’s top player in the handysize LPG carrier segment has contracted Jiangnan Shipyard in China to build and deliver the vessels in March and July of 2027 at about $102.9m each.

An option for two additional units has been agreed， which， if exercised， will see the vessels delivered in November 2027 and January 2028.

The vessels will be able to carry a variety of gas products， such as ethylene and ethane， as well as LPG and clean ammonia， Navigator said. The newbuilds will feature ethane dual-fuel engines， be ammonia fuel-ready， and be fit to cross the former and the new Panama Canal locks.

Navigator currently boasts a fleet of 56 semi-or fully-refrigerated liquefied gas carriers and owns a 50% stake in an ethylene export marine terminal at Morgan’s Point in Texas.

“Building these vessels strengthens the link between our ethylene export terminal at Morgan’s Point and our global customers. They enable us to maintain a safe， efficient， and reliable ethylene transportation capability that is both competitive and future-ready， using assets adapted to the low carbon fuel landscape，” remarked Mads Peter Zacho， chief executive of Nvigator.

The company will finance the ships with cash on hand and new debt. The newbuilds have not been backed by any contracts， but Navigator said it expects to seal fixtures before their delivery.