Navigator Gas secures $121.8M loan for two ammonia-fuelled ships
What's the deal? Navigator GasDealroom has a profile for this one. Try Dealroom → vessel-owning subsidiaries Navigator Amundsen AS and Navigator Archer AS — formerly Amon Gas AS and Amon Gas II AS — have entered into US$78.8M senior secured post-delivery term loan facility, announced July 31, 2026. The financing comes from ING Bank N.V.Dealroom has a profile for this one. Try Dealroom →, Société Générale, and Oversea-Chinese Banking Corporation LimitedDealroom has a profile for this one. Try Dealroom →.
What's the money for? The loan will fund the delivery of two 51,350m³ ammonia-fuelled liquefied ammonia carriers, which can also carry liquefied petroleum gas. The vessels are under construction in China at Nantong CIMC Sinopacific Offshore & Engineering Co. Ltd. under shipbuilding contracts signed in July 2025.
The terms: The facility covers up to 70% of the two vessels' cost at delivery, with the remainder funded from the borrowers' cash. It carries a six-year post-delivery tenor, is secured by mortgages over the vessels, and bears interest at SOFR plus 1.35%, payable quarterly.
Why now? Delivery of the two ships is expected in May 2028 and September 2028. All pre-delivery payments and the remaining delivery instalments will come from the borrowers' own cash resources.
The signal: Backing for ammonia-fuelled carriers reflects lenders positioning around lower-carbon shipping fuels — a bet that dual-capable vessels can serve both the LPG trade today and cleaner ammonia demand as it grows.
Read more: MarketScreener
Image credit: In Memoriam: PhillipC
