Navigator Holdings Ltd.
For the period ended Sep 30, 2026. Filed Nov 3, 2026.
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Sep 30, 2026 · Filed Nov 3, 2026
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Contents
12. Commitments and Contingencies
- Commitments and Contingencies
The schedule below summarizes our future contractual obligations as of September 30, 2026:
| 2026 | 2027 | 2028 | 2029 | 2030 | Thereafter | Total | |
|---|---|---|---|---|---|---|---|
| Secured term loan and revolving credit facilities | $69,853 | $132,798 | $134,545 | $132,514 | $47,479 | $111,805 | $628,994 |
| October 2024 Bonds | — | — | — | 140,000 | — | — | 140,000 |
| Vessels under construction (1) | 72,630 | 249,300 | 113,100 | — | — | — | 435,030 |
| Office operating leases (2) | 314 | 1,248 | 1,245 | 1,131 | 1,107 | 1,186 | 6,231 |
| Total contractual obligations | $142,797 | $383,346 | $248,890 | $273,645 | $48,586 | $112,991 | $1,210,255 |
- The Company entered into four contracts to build the Four Ethylene Newbuild Vessels with Jiangnan Shipyard (Group) Co., Ltd. and China Shipbuilding Trading Co., Ltd., in China. The Four Ethylene Newbuild Vessels are under construction and are scheduled to be delivered to the Company in December 2026, June 2027, September 2027 and December 2027 respectively, at an average shipyard price of $102.9 million per vessel.
In July 2025, the Company announced that the Amon Joint Venture intends to acquire the Two Ammonia Newbuild Vessels. The Amon Joint Venture has entered into contracts with Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. to build the Two Ammonia Newbuild Vessels, with deliveries scheduled to take place in May 2028 and September 2028 respectively, at an average yard price of $87 million per vessel.
- The Company occupies office space in London with a lease that commenced in January 2022 for a period of 10 years with a break option in February 2027 (the "Break Option"), which is the fifth anniversary of the lease commencement date. It was a requirement under the lease that the Break Option be declared 12 months in advance, and in January 2026 the Company agreed not to declare the Break Option in return for the removal of an upward-only rent review clause in the lease in relation to the second five-year period of the lease. The gross rent (excluding service charges and business rates) per year for our office lease is approximately $1.0 million.
The Company occupies office space in Copenhagen and occupies the office space on a 6-month rolling basis. The monthly lease payments are dependent on foreign exchange rates and the gross monthly rent, payable in Danish kroner, is equivalent to approximately $15,000.
The lease term for our office in Gdynia, Poland which commenced in April 2024 is for a period of 5 years to March 30, 2029. The lease payments are dependent on foreign exchange rates and the gross annual rent, payable in euros, is equivalent to approximately $0.1 million.
The Company entered into a new 43-month lease for office space in Houston that commenced on April 1, 2025. The annual gross rent under the lease payable in U.S. dollars is approximately $41,000.
The lease term for our office in Manila, Philippines commenced in July 2025 and expires in June 2028. The gross rent per year for our office lease is approximately $0.1 million.
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