{"id":528612,"date":"2021-08-16T16:33:32","date_gmt":"2021-08-16T20:33:32","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/navigator-holdings-ltd-preliminary-second-quarter-2021-results-unaudited\/"},"modified":"2021-08-16T16:33:32","modified_gmt":"2021-08-16T20:33:32","slug":"navigator-holdings-ltd-preliminary-second-quarter-2021-results-unaudited","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/navigator-holdings-ltd-preliminary-second-quarter-2021-results-unaudited\/","title":{"rendered":"Navigator Holdings Ltd. Preliminary Second Quarter 2021 Results (Unaudited)"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">LONDON<\/span>, <span class=\"xn-chron\">Aug. 16, 2021<\/span> \/PRNewswire\/ &#8212; <\/p>\n<p>\n        <b><br \/>\n          <i>Highlights<\/i><br \/>\n        <\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>Navigator Holdings Ltd. (the &#8220;Company&#8221;, &#8220;we&#8221;, &#8220;our&#8221; and &#8220;us&#8221;) (NYSE: NVGS) reported operating revenue of <span class=\"xn-money\">$85.9 million<\/span> for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, compared to <span class=\"xn-money\">$82.5 million<\/span> for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>. <\/li>\n<li>Net income was <span class=\"xn-money\">$0.3 million<\/span> (earnings per share of <span class=\"xn-money\">$0.01<\/span>) for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, compared to a net income of <span class=\"xn-money\">$3.0 million<\/span> (earnings per share of <span class=\"xn-money\">$0.05<\/span>) for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>. <\/li>\n<li>Adjusted EBITDA<sup>(1)<\/sup> was <span class=\"xn-money\">$28.2 million<\/span> for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, compared to <span class=\"xn-money\">$31.9 million<\/span> for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>. <\/li>\n<li>Fleet utilization was 85.4% for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, a reduction from the 88.3% achieved for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>. <\/li>\n<li>The ethylene export marine terminal at <span class=\"xn-location\">Morgan&#8217;s<\/span><span class=\"xn-location\">Point, Texas<\/span> on the Houston Ship Channel (the &#8220;Marine Export Terminal&#8221;) had throughput volumes of 155,428 tons for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, compared 103,220 tons for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>. <\/li>\n<li>Four 12-month time charters with Mitsui &amp; Co. Energy Trading Singapore Pte. Ltd. commenced during the quarter, transporting LPG from Pembina Pipeline Corporation&#8217;s new LPG export facility at <span class=\"xn-location\">Prince Rupert, British Columbia<\/span>, West Coast Canada. A fifth vessel is scheduled to enter service on this route in <span class=\"xn-chron\">October 2021<\/span>. <\/li>\n<li>Navigator loaded the first cargo from the new 20,000bbls per day Repauno LPG Export Terminal on the U.S. East Coast in <span class=\"xn-chron\">April 2021<\/span>, followed by two similar cargoes loadings in May. <\/li>\n<li>On <span class=\"xn-chron\">August 4, 2021<\/span>, the Company entered into the previously announced transaction with Naviera Ultranav Limitada (&#8220;Ultranav&#8221;) to merge the Ultragas ApS (&#8220;Ultragas&#8221;) fleet and business activities with Navigator. The addition of their 18 vessels will give a combined fleet of 56 vessels which will enhance our capability to provide flexibility, choice and support to our customers. <\/li>\n<li>In <span class=\"xn-chron\">April 2021<\/span>, we published our inaugural CSR report.<\/li>\n<\/ul>\n<p>The Company&#8217;s financial information for the quarter ended <span class=\"xn-chron\">June 30, 2021<\/span> included in this press release is preliminary and is subject to change in connection with the completion of the Company&#8217;s quarter-end close procedures and further financial review. Actual results may differ from these estimates as a result of the completion of the Company&#8217;s quarter-end closing procedures, review adjustments and other developments that may arise between now and the time such financial information for the quarter ended <span class=\"xn-chron\">June 30, 2021<\/span> is finalized.<\/p>\n<p>\n        <b><br \/>\n          <i>Recent Developments <\/i><br \/>\n        <\/b>\n      <\/p>\n<p>\n        <u>Ultragas Transaction<\/u>\n      <\/p>\n<p>On <span class=\"xn-chron\">August 4, 2021<\/span>, the Company entered into the previously announced transaction with Naviera Ultranav Limitada (&#8220;Ultranav&#8221;) to merge the Ultragas ApS (&#8220;Ultragas&#8221;) fleet and business activities with Navigator. Ultragas&#8217; fleet, which had a broker assessed value of approximately <span class=\"xn-money\">$529.5 million<\/span>, includes:<\/p>\n<ul type=\"disc\">\n<li>seven modern 22,000cbm handysize semi-refrigerated vessels; <\/li>\n<li>five 12,000cbm ethylene vessels and; <\/li>\n<li>six gas carriers in the 3,770-9,000cbm range, three of which are ethylene capable.<\/li>\n<\/ul>\n<p>The combined fleet of 56 vessels will enhance our capability to provide flexibility, choice and support to our customers. <\/p>\n<p>In line with the original terms of the transaction, Navigator issued approximately 21.2 million new shares of its common stock to Ultranav, in consideration for its vessels less its approximate <span class=\"xn-money\">$180 million<\/span> debt, giving a calculated price per Navigator share of <span class=\"xn-money\">$16.82<\/span>. The combined entity has an aggregate net asset value of approximately <span class=\"xn-money\">$1.3 billion<\/span>, based on internal\/external estimates of the fleet, including an appraised <span class=\"xn-money\">$260 million<\/span> valuation representing Navigator&#8217;s 50% ownership of the Marine Export Terminal at <span class=\"xn-location\">Morgan&#8217;s<\/span><span class=\"xn-location\">Point<\/span>, Texas.\u00a0\u00a0 <\/p>\n<p>\n        <u>Market Trends<\/u>\n      <\/p>\n<p>The <span class=\"xn-location\">Texas<\/span>-freeze closed the ethylene arbitrage between the U.S. and the rest of the world during March and April of 2021 resulting in minimal ethylene exports from <span class=\"xn-location\">North America<\/span>. During this period the vast majority of ethylene crackers in <span class=\"xn-location\">Texas<\/span> and <span class=\"xn-location\">Louisiana<\/span> that were impacted quickly commenced the necessary repairs and started ramping up production, albeit at less than maximum capacity. The available production was however sufficient to satisfy strong domestic demand and export opportunities. Consequently, the domestic ethylene price fell from a high of <span class=\"xn-money\">$0.64<\/span> per gallon to <span class=\"xn-money\">$0.26<\/span> per gallon, resulting in very healthy international ethylene arbitrage. Exports again began to flow from the <span class=\"xn-location\">Morgan&#8217;s<\/span> Point Marine Export Terminal and the nearby Targa owned Terminal, which combined exported approximately 80,000mts during each month of June and July, and half of August. Towards the end of the quarter both the delayed start-up of Baystar&#8217;s new 600,000mts ethylene cracker, together with unplanned stoppages at <span class=\"xn-location\">Westlake<\/span>, Sasol and Lyondell crackers, coupled with already low ethylene inventory levels post Texas Freeze, pushed U.S. ethylene prices higher to <span class=\"xn-money\">$0.55<\/span> per gallon, leading to a reduction in U.S. ethylene exports. U.S. domestic prices have since reverted to about <span class=\"xn-money\">$0.40<\/span> per gallon with more exports flowing to <span class=\"xn-location\">Europe<\/span>. The pricing forecast for U.S. ethylene remains in backwardation due to the continued price advantage of domestic ethane cracker feedstock, which has remained very competitive within a band of <span class=\"xn-money\">$0.10<\/span> to <span class=\"xn-money\">$0.11<\/span> per gallon throughout 2021. While North American ethylene export volumes have been volatile throughout the year, ethane demand has increased providing employment opportunities for our ethane capable fleet. With rising oil prices comes more substitution of naphtha as a cracker feedstock by ethane. The North American propylene deficit has in parallel provided increased demand for deep-sea propylene transportation to the U.S. and the Navigator Gas fleet has capitalized on this surge of imports and has experienced record high propylene volumes. The vessels are currently utilizing backhaul opportunities by transporting propylene from <span class=\"xn-location\">Asia<\/span> to the U.S. Gulf.<\/p>\n<p>Four Navigator handysize semi-refrigerated vessels have now been delivered to the Pembina Canadian West Coast LPG export terminal. These vessels have safely, reliably and efficiently provided a means for the Canadian producers to deliver their cargo to Asian customers, without the need or cost of a Panama Canal transit. This new Transpacific handysize LPG trade is set to expand in October when a fifth vessel is scheduled to enter service on this route. U.S. LPG pricing remains at a high level of around <span class=\"xn-money\">$1.00<\/span> per gallon, which is double the price compared to the same period in 2020. The high cost of U.S. propane has dampened North American LPG exports during the last few months according to EIA despite an increasing level of natural gas liquids production within the continent. The forecasted strong oil price environment will continue to support gas production and use.<\/p>\n<p>\n        <b>Results of Operations for the Three Months Ended <span class=\"xn-chron\">June 30, 2020<\/span> Compared to the Three Months Ended <span class=\"xn-chron\">June 30, 2021<\/span><\/b>\n      <\/p>\n<p>The following table compares our operating results for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span> and 2021: <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen11 prnpr14\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Three\u00a0Months<br \/>Ended June 30,<br \/>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Three\u00a0Months<br \/>Ended June 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a02021<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Percentage<br \/>Change<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(in thousands, except percentages)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating revenue<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 79,869<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 80,278<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.5%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating revenue \u2013 Luna Pool collaborative arrangement<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10 prnpr14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,596<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,579<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">114.9%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total operating revenues<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">82,465<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">85,857<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4.1%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Expenses:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Brokerage commissions<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,305<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">974<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(25.4%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Voyage expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,728<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">17,749<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20.5%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Voyage expenses \u2013\u00a0Luna Pool collaborative <br \/>\u00a0\u00a0\u00a0\u00a0arrangement<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,043<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,479<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">80.1%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Vessel operating expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">26,493<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">28,826<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8.8%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Depreciation and amortization<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">19,151<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">19,230<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.4%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">General and administrative costs<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,509<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,276<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">39.2%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Other income<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(117)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(88)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(24.8%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml60\">\n                <span class=\"prnews_span\">Total operating expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">69,112<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">78,446<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13.5%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating income<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,353<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,411<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(44.5%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Foreign currency exchange gain \/ (loss) on senior <br \/>\u00a0\u00a0\u00a0\u00a0secured bonds<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,852)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">330<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 n\/a<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Unrealized gain \/ (loss) on non-designated derivative <br \/>\u00a0\u00a0\u00a0\u00a0instruments<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,354<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(269)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 n\/a<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Interest expense<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(11,128)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(8,647)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(22.3%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Interest income<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">96<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">63<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(24.4%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Income \/ (loss) before taxes and share of result of equity <br \/>\u00a0\u00a0\u00a0\u00a0accounted joint ventures<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,823<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,112)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 n\/a<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Income taxes<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(168)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(190)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13.1%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share of result of equity accounted joint venture<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(164)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,001<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 n\/a<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,491<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">699<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(80.0%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income attributable to non-controlling interest<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(483)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(394 )<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(18.4%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income attributable to stockholders of Navigator Holdings Ltd<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 3,008<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 305<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(89.9%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b><br \/>\n          <i>Operating Revenue<\/i><br \/>\n        <\/b>.\u00a0Operating revenue increased by <span class=\"xn-money\">$0<\/span>.4\u00a0million or 0.5% to <span class=\"xn-money\">$80.3 million<\/span> for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, from <span class=\"xn-money\">$79<\/span>.9\u00a0million for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>. This increase was principally due to: \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0<\/p>\n<ul type=\"disc\">\n<li>an increase in operating revenue of approximately <span class=\"xn-money\">$1.7 million<\/span> attributable to an increase in average monthly time charter equivalent rates, which increased to an average of approximately <span class=\"xn-money\">$22,181<\/span> per vessel per day (<span class=\"xn-money\">$674,680<\/span> per calendar month) for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, compared to an average of approximately <span class=\"xn-money\">$21,606<\/span> per vessel per day (<span class=\"xn-money\">$657,170<\/span> per calendar month) for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>; <\/li>\n<li>a decrease in operating revenue of approximately <span class=\"xn-money\">$2.1 million<\/span> as a result of a decrease in fleet utilization to 85.4% for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, from 88.3% for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>; <\/li>\n<li>a decrease in operating revenue of approximately <span class=\"xn-money\">$2.2 million<\/span> attributable to seven vessels undertaking dry docking during the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, for a total of 114 days, compared to two vessels for a total of 44 days during the three months to <span class=\"xn-chron\">June 30, 2020<\/span>; and <\/li>\n<li>an increase in operating revenue of approximately <span class=\"xn-money\">$3.0 million<\/span> primarily attributable to an increase in pass through voyage costs, due to more expensive bunker fuel and additional canal transits for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, compared to the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>. <\/li>\n<\/ul>\n<p>The following table presents selected operating data for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span> and 2021, which we believe are useful in understanding the basis for movement in our operating revenues.<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Three\u00a0Months<br \/>Ended<br \/>June 30, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Three\u00a0Months<br \/>Ended<br \/>June 30, 2021<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Fleet Data:<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Weighted average number of vessels<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38.0<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38.0<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Ownership days<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,458<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,458<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Available days<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,414<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,300<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating days<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,015<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,819<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Fleet utilization<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">88.3%<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">85.4%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Average daily time charter equivalent rate\u00a0(*)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 21,606<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 22,181<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>*<\/b>\u00a0\u00a0 <b>Non-GAAP Financial Measure\u2014Time charter equivalent: <\/b>Time charter equivalent (&#8220;TCE&#8221;) rate is a measure of the average daily revenue performance of a vessel. TCE is not calculated in accordance with U.S. GAAP. For all charters, we calculate TCE by dividing total operating revenues, less any voyage expenses, by the number of operating days for the relevant period. Under a time charter, the charterer pays substantially all of the vessel voyage related expenses, whereas for voyage charters, also known as spot market charters, we pay all voyage expenses. TCE rate is a shipping industry performance measure used primarily to compare period-to-period changes in a company&#8217;s performance despite changes in the mix of charter types (i.e., spot charters, time charters and contracts of affreightment) under which the vessels may be employed between the periods. We include average daily TCE rate, as we believe it provides additional meaningful information in conjunction with net operating revenues, because it assists our management in making decisions regarding the deployment and use of our vessels and in evaluating their financial performance. Our calculation of TCE rate may not be comparable to that reported by other companies. <\/p>\n<p>\n        <b><br \/>\n          <i>Reconciliation of Operating Revenue to TCE rate <\/i><br \/>\n        <\/b>\n      <\/p>\n<p>The following table represents a reconciliation of operating revenue to TCE rate. Operating revenue is the most directly comparable financial measure calculated in accordance with U.S. GAAP for the periods presented. <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Three\u00a0Months<br \/>Ended<br \/>June 30,\u00a02020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Three\u00a0Months<br \/>Ended<br \/>June 30,\u00a02021<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>(in\u00a0thousands,\u00a0except\u00a0operating\u00a0days<br \/>and average\u00a0daily\u00a0time\u00a0charter\u00a0equivalent\u00a0rate)<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Fleet Data:<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating revenue (excluding collaborative arrangements)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 79,869<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 80,278<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Voyage expenses (excluding collaborative arrangements)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,728<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">17,749<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating revenue less Voyage expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">65,141<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">62,529<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating days<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,015<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,819<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Average daily time charter equivalent rate<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 21,606<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 22,181<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b><br \/>\n          <i>Operating Revenue \u2013 Luna Pool collaborative arrangement<\/i><br \/>\n        <\/b>.\u00a0Operating revenue \u2013 Luna Pool collaborative arrangement, which was our share of the other Luna Pool participants revenue increased by <span class=\"xn-money\">$3.0 million<\/span> to <span class=\"xn-money\">$5<\/span>.6\u00a0million for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, compared to <span class=\"xn-money\">$2.6 million<\/span> for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>. This increase relates, in part, to having all fourteen vessels in the Luna Pool for the quarter ended <span class=\"xn-chron\">June 30, 2021<\/span>, compared to an average of 10 vessels for the quarter ended <span class=\"xn-chron\">June 30, 2020<\/span> and in part to improved utilization and time charter rates for the Luna Pool vessels for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, compared to the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>. <\/p>\n<p>\n        <b><br \/>\n          <i>Brokerage Commissions<\/i><br \/>\n        <\/b>.\u00a0Brokerage commissions, which typically vary between 0.625% and 2.5% of operating revenue, decreased by 25.4%, to <span class=\"xn-money\">$1<\/span>.0\u00a0million for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, from <span class=\"xn-money\">$1.3 million<\/span> for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>, primarily due to a charter negotiation direct with the charterer where no broker commission is payable. <\/p>\n<p>\n        <b><br \/>\n          <i>Voyage Expenses.<\/i><br \/>\n        <\/b>\u00a0Voyage expenses increased by 20.5% to <span class=\"xn-money\">$17<\/span>.7\u00a0million for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, from <span class=\"xn-money\">$14<\/span>.7\u00a0million for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>. This was primarily due to an increase in the price of bunkers used by our vessels, despite a reduction in the number of voyage charter days which decreased by approximately 12.0% during the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, as compared to the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>. These increased voyage costs are typically pass through costs, corresponding to an increase in operating revenue of the same amount.<\/p>\n<p>\n        <b><br \/>\n          <i>Voyage Expenses<\/i><br \/>\n        <\/b>.<b><i> \u2013 Luna Pool collaborative arrangement<\/i><\/b>.\u00a0Voyage expenses \u2013 Luna Pool collaborative arrangement, which was our other Luna Pool participants share of our revenue, was <span class=\"xn-money\">$5<\/span>.4\u00a0million for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span> compared to <span class=\"xn-money\">$3.0 million<\/span> for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>. The Luna Pool became operational during the quarter ended <span class=\"xn-chron\">June 30, 2020<\/span>, and this <span class=\"xn-money\">$2.4 million<\/span> increase was due to having all fourteen vessels in the Luna Pool for the quarter ended <span class=\"xn-chron\">June 30, 2021<\/span>, compared to an average of 10 vessels for the quarter ended <span class=\"xn-chron\">June 30, 2020<\/span>, as well as improved utilization and time charter rates for the Luna Pool vessels for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, compared to the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>. <\/p>\n<p>\n        <b><br \/>\n          <i>Vessel Operating Expenses<\/i><br \/>\n        <\/b>.\u00a0Vessel operating expenses increased by 8.8% to <span class=\"xn-money\">$28<\/span>.8\u00a0million for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, from <span class=\"xn-money\">$26<\/span>.5\u00a0million for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>. Average daily vessel operating expenses increased by <span class=\"xn-money\">$675<\/span> per vessel per day, or 8.8%, to <span class=\"xn-money\">$8,336<\/span> per vessel per day for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, compared to <span class=\"xn-money\">$7,661<\/span> per vessel per day for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>. This was primarily due to\u00a0a general reduction in vessel operating expenses across the fleet in the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>, as a result of COVID-19, which resulted in operating costs being deferred to subsequent quarters. <\/p>\n<p>\n        <b><br \/>\n          <i>Depreciation and Amortization<\/i><br \/>\n        <\/b>.\u00a0Depreciation and amortization expense increased by 0.4% to <span class=\"xn-money\">$19<\/span>.2\u00a0million for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, from <span class=\"xn-money\">$19<\/span>.2\u00a0million for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>. Depreciation and amortization expense included amortization of capitalized drydocking costs of <span class=\"xn-money\">$2<\/span>.1\u00a0million and <span class=\"xn-money\">$2.0 million<\/span> for the three months ended June 30,\u00a02021, and 2020 respectively.<\/p>\n<p>\n        <b><br \/>\n          <i>General and Administrative Costs<\/i><br \/>\n        <\/b>.\u00a0General and administrative costs increased by <span class=\"xn-money\">$1<\/span>.8\u00a0million or 39.2% to <span class=\"xn-money\">$6<\/span>.3\u00a0million for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, from <span class=\"xn-money\">$4<\/span>.5\u00a0million for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>. The increase in general and administrative costs was primarily as a result of a gain on a revaluation of an Indonesian Rupiah bank account last year, for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>, as well as an increase of <span class=\"xn-money\">$0.4 million<\/span> on D&amp;O insurances for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>.<\/p>\n<p>\n        <b><br \/>\n          <i>Other Income.<\/i><br \/>\n        <\/b>\u00a0Other income was <span class=\"xn-money\">$0.1 million<\/span> for both the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, and <span class=\"xn-chron\">June 30, 2020<\/span>, and consists of management fees for commercial and administrative activities performed by the Company for the Luna Pool. <\/p>\n<p>\n        <b><br \/>\n          <i>Non-operating Results \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/i><br \/>\n        <\/b>\n      <\/p>\n<p>\n        <b><br \/>\n          <i>Foreign Currency Exchange Loss on Senior Secured Bonds<\/i><br \/>\n        <\/b>.\u00a0Exchange gains and losses relate to non-cash movements on our 600 million Norwegian <span class=\"xn-money\">Kroner 2018<\/span> Bonds which are translated to U.S. Dollar at the prevailing exchange rate as of <span class=\"xn-chron\">June 30, 2021<\/span>. The foreign currency exchange gain of <span class=\"xn-money\">$0.3 million<\/span> for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, was as a result of the Norwegian Kroner weakening against the U.S. dollar, being <span class=\"xn-money\">NOK 8.6<\/span> to <span class=\"xn-money\">USD 1.0<\/span> as of <span class=\"xn-chron\">June 30, 2021<\/span>, compared to <span class=\"xn-money\">NOK 8.5<\/span> to <span class=\"xn-money\">USD 1.0<\/span> as of <span class=\"xn-chron\">March 31, 2021<\/span>. The foreign currency exchange loss of <span class=\"xn-money\">$4.9 million<\/span> for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>, was as a result of the Norwegian Kroner strengthening against the U.S. dollar, being <span class=\"xn-money\">NOK 9.7<\/span> to <span class=\"xn-money\">USD 1.0<\/span> as of <span class=\"xn-chron\">June 30, 2020<\/span>, compared to <span class=\"xn-money\">NOK 10.5<\/span> to <span class=\"xn-money\">USD 1.0<\/span> as of <span class=\"xn-chron\">March 31, 2020<\/span>.<\/p>\n<p>\n        <b><br \/>\n          <i>Unrealized Gain on Non-designated Derivative Instruments<\/i><br \/>\n        <\/b>.\u00a0The unrealized loss on non-designated derivative instruments of <span class=\"xn-money\">$0<\/span>.3\u00a0million for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, relates to the fair value movement in our cross-currency interest rate swap and is primarily due to the weakening of the Norwegian Kroner against the U.S. dollar. The unrealized gain on this swap for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>, was <span class=\"xn-money\">$6.4 million<\/span>. <\/p>\n<p>\n        <b><br \/>\n          <i>Interest Expense<\/i><br \/>\n        <\/b>.\u00a0Interest expense decreased by <span class=\"xn-money\">$2<\/span>.5\u00a0million, or 22.3%, to <span class=\"xn-money\">$8<\/span>.6\u00a0million for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, from <span class=\"xn-money\">$11<\/span>.1\u00a0million for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>. This is primarily as a result of a reduction in 3-month US LIBOR interest rates. <\/p>\n<p>\n        <b><br \/>\n          <i>Income Taxes<\/i><br \/>\n        <\/b>.\u00a0Income taxes related to taxes on our subsidiaries incorporated in the <span class=\"xn-location\">United Kingdom<\/span>, <span class=\"xn-location\">Poland<\/span> and <span class=\"xn-location\">Singapore<\/span> and our consolidated variable interest entity (&#8220;VIE&#8221;), incorporated in <span class=\"xn-location\">Malta<\/span>. For the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, we had a tax charge of <span class=\"xn-money\">$190,000<\/span> compared to taxes of <span class=\"xn-money\">$168,000<\/span> for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>.<\/p>\n<p>\n        <b><br \/>\n          <i>Share of result of equity accounted joint venture<\/i><br \/>\n        <\/b>.\u00a0The share of result of the Company&#8217;s 50% ownership in the Export Terminal Joint Venture was a gain of <span class=\"xn-money\">$2<\/span>.0\u00a0million for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, primarily as a result of increased volumes through the Marine Export Terminal, compared to a loss of <span class=\"xn-money\">$0.2 million<\/span> for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>, as a result of initial startup volumes following the operational commencement of the Marine Export Terminal in <span class=\"xn-chron\">January 2020<\/span>.<\/p>\n<p>\n        <b><br \/>\n          <i>Non-Controlling Interest.<\/i><br \/>\n        <\/b>\u00a0We have entered into a sale and leaseback arrangement with a wholly-owned special purpose vehicle (&#8220;lessor SPV&#8221;) of a financial institution. While we do not hold any equity investments in this lessor SPV, we have determined that we are the primary beneficiary of this entity and accordingly, we are required to consolidate this VIE into our financial results. Thus, the income attributable to the financial institution of <span class=\"xn-money\">$0.4 million<\/span> is presented as the non-controlling interest in our financial results. <\/p>\n<p>\n        <b>Results of Operations for the Six Months Ended <span class=\"xn-chron\">June 30, 2020<\/span> Compared to the Six Months Ended <span class=\"xn-chron\">June 30, 2021<\/span><\/b>\n      <\/p>\n<p>The following table compares our operating results for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span> and 2021: <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Six Months<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Ended June 30,<br \/>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Six Months<br \/>Ended June 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a02021<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Percentage<br \/>Change<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(in thousands, except percentages)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating revenue<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 161,126<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 160,786<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.2%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating revenue \u2013 Luna Pool collaborative arrangement<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,596<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,819<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">316.8%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total operating revenue<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">163,722<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">171,605<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4.8%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating expenses:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Brokerage commissions<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,560<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,167<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(15.4%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Voyage expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">32,272<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">33,365<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3.4%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Voyage expenses \u2013 Luna Pool collaborative <br \/>\u00a0\u00a0\u00a0\u00a0arrangement<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,043<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,611<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">215.8%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Vessel operating expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">53,899<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">55,818<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3.6%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Depreciation and amortization<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38,361<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38,503<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.4%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">General and administrative costs<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,017<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12,556<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14.0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Other income<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(117)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(160)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">36.8%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml60\">\n                <span class=\"prnews_span\">Total operating expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">141,035<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">151,860<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7.7%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating income<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,687<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">19,745<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13.0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Foreign currency exchange gain on senior secured <br \/>\u00a0\u00a0\u00a0\u00a0bonds<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,565<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">338<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(94.9%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Unrealized gain\/(loss) on non-designated derivative <br \/>\u00a0\u00a0\u00a0\u00a0instruments<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(7,607)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">278<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 n\/a<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Interest expense<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(22,668)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(17,608)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(22.3%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Interest income<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">315<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">94<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(70.2%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Income \/ (loss) before taxes and share of result of equity <br \/>\u00a0\u00a0\u00a0\u00a0accounted joint venture<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(708)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,847<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 n\/a<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Income taxes<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(336)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(335)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">93.1 %<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share of result of equity accounted joint venture<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,205)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,396<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 n\/a<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income \/ (loss)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,249)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,908<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 n\/a<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income attributable to non-controlling interest<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(905)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(783)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(13.5%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prnvab prntal prnpl6 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income \/ (loss) attributable to stockholders of Navigator <br \/>\u00a0\u00a0\u00a0\u00a0Holdings Ltd<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnpb2\">\n                <span class=\"prnews_span\"><br \/>\n                  <span class=\"prnsbbd\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0(5,154)<\/span><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 3,125<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">n\/a<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b><br \/>\n          <i>Operating Revenue<\/i><br \/>\n        <\/b>.\u00a0Operating revenue, net of address commission, decreased by <span class=\"xn-money\">$0<\/span>.3\u00a0million or 0.2% to <span class=\"xn-money\">$160.8 million<\/span> for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, from <span class=\"xn-money\">$161<\/span>.1\u00a0million for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>. This increase was principally due to: <\/p>\n<ul type=\"disc\">\n<li>an increase in operating revenue of approximately <span class=\"xn-money\">$5.0 million<\/span> attributable to an increase in average monthly time charter equivalent rates, which increased to an average of approximately <span class=\"xn-money\">$22,064<\/span> per vessel per day (<span class=\"xn-money\">$671,100<\/span> per vessel per calendar month) for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, compared to an average of approximately <span class=\"xn-money\">$21,228<\/span> per vessel day (<span class=\"xn-money\">$645,700<\/span> per vessel per calendar month) for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>; <\/li>\n<li>a decrease in operating revenue of approximately <span class=\"xn-money\">$3.7 million<\/span> attributable to a reduction in vessel available days of 234 days or 3.4% for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, due to an increase in the number dry dockings undertaken during the six months ended <span class=\"xn-chron\">June 30, 2021<\/span> compared to the relatively low number of dry dockings undertaken for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span> as a result of the COVID-19 lockdowns at that time; <\/li>\n<li>a decrease in operating revenue of approximately <span class=\"xn-money\">$2.7 million<\/span> attributable to a decrease in fleet utilization which was 87.3% for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span> compared to 88.7% for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>; and <\/li>\n<li>an increase in operating revenue of approximately <span class=\"xn-money\">$1.1 million<\/span> primarily attributable to an increase in pass through voyage costs, due to additional fuel and canal transit costs for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span> compared to the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>.<\/li>\n<\/ul>\n<p>The following table presents selected operating data for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span> and 2021, which we believe are useful in understanding the basis for movement in our operating revenues. <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Six\u00a0Months<br \/>Ended<br \/>June 30, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Six Months<br \/>Ended<br \/>June 30, 2021<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Fleet Data:<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Weighted average number of vessels<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38.0<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38.0<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Ownership days<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,916<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,878<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Available days<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,846<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,612<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating days<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,070<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,775<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Fleet utilization<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">88.7%<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">87.3%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Average daily time charter equivalent rate\u00a0(*)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 21,228<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 22,064<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>*<\/b>\u00a0\u00a0 <b>Non-GAAP Financial Measure\u2014Time charter equivalent: <\/b>Time charter equivalent (&#8220;TCE&#8221;) rate is a measure of the average daily revenue performance of a vessel. TCE is not calculated in accordance with U.S. GAAP. For all charters, we calculate TCE by dividing total operating revenues, less any voyage expenses, by the number of operating days for the relevant period. Under a time charter, the charterer pays substantially all of the vessel voyage related expenses, whereas for voyage charters, also known as spot market charters, we pay all voyage expenses. TCE rate is a shipping industry performance measure used primarily to compare period-to-period changes in a company&#8217;s performance despite changes in the mix of charter types (i.e., spot charters, time charters and contracts of affreightment) under which the vessels may be employed between the periods. We include average daily TCE rate, as we believe it provides additional meaningful information in conjunction with net operating revenues, because it assists our management in making decisions regarding the deployment and use of our vessels and in evaluating their financial performance. Our calculation of TCE rate may not be comparable to that reported by other companies. <\/p>\n<p>\n        <b><br \/>\n          <i>Reconciliation of Operating Revenue to TCE rate <\/i><br \/>\n        <\/b>\n      <\/p>\n<p>The following table represents a reconciliation of operating revenue to TCE rate. Operating revenue is the most directly comparable financial measure calculated in accordance with U.S. GAAP for the periods presented. <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Six Months<br \/>Ended<br \/>June 30,\u00a02020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Six\u00a0Months<br \/>Ended<br \/>June 30,\u00a02021<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>(in\u00a0thousands,\u00a0except\u00a0operating\u00a0days<br \/>and average\u00a0daily\u00a0time\u00a0charter\u00a0equivalent\u00a0rate)<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Fleet Data:<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating revenue (excluding collaborative arrangements)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 161,126<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 160,786<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Voyage expenses (excluding collaborative arrangements)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">32,272<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">33,365<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating revenue less Voyage expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">128,854<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">127,421<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating days<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,070<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,775<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Average daily time charter equivalent rate<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 21,228<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 22,064<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b><br \/>\n          <i>Operating Revenue \u2013 Luna Pool collaborative arrangement<\/i><br \/>\n        <\/b>.\u00a0Operating revenue \u2013 Luna Pool collaborative arrangement, which was our share of the other Luna Pool participants revenue, was <span class=\"xn-money\">$10<\/span>.8\u00a0million for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span> compared to <span class=\"xn-money\">$2<\/span>.6\u00a0million for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>. The Luna Pool became operational during the quarter ended <span class=\"xn-chron\">June 30, 2020<\/span> and consequently there was no Operating Revenue \u2013 Luna Pool collaborative arrangement during the first three months ended <span class=\"xn-chron\">March 31, 2020<\/span> and a reduced share of the other Luna Pool participants revenue during the initial quarter of its operations. <\/p>\n<p>\n        <b><br \/>\n          <i>Brokerage Commissions<\/i><br \/>\n        <\/b>.\u00a0Brokerage commissions, which typically vary between 0.625% and 2.5% of operating revenue, reduced by 15.4%, to <span class=\"xn-money\">$2<\/span>.2\u00a0million for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, from <span class=\"xn-money\">$2.6 million<\/span> for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>, primarily due to a charter negotiation direct with the charterer where no broker commission is payable.<\/p>\n<p>\n        <b><br \/>\n          <i>Voyage Expenses.<\/i><br \/>\n        <\/b>\u00a0Voyage expenses increased by 3.4% to <span class=\"xn-money\">$33<\/span>.4\u00a0million for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, from <span class=\"xn-money\">$32<\/span>.3\u00a0million for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>. This was primarily due to an increase in the price of bunkers used by our vessels.\u00a0 These increased voyage costs are pass through costs, corresponding to an increase in operating revenue of the same amount.<\/p>\n<p>\n        <b><br \/>\n          <i>Voyage Expenses<\/i><br \/>\n        <\/b>.<b><i> \u2013 Luna Pool collaborative arrangement<\/i><\/b>.\u00a0Voyage expenses \u2013 Luna Pool collaborative arrangement, which was our other Luna Pool participants share of our revenue, was <span class=\"xn-money\">$9<\/span>.6\u00a0million for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span> an increase of <span class=\"xn-money\">$6.6 million<\/span> compared to the <span class=\"xn-money\">$3.0 million<\/span> for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>. The Luna Pool became operational during the quarter ended <span class=\"xn-chron\">June 30, 2020<\/span> and consequently there were no Voyage Expenses \u2013 Luna Pool collaborative arrangement during the first three months ended <span class=\"xn-chron\">March 31, 2020<\/span> and a reduced share of the other Luna Pool participants share of our revenue during the initial quarter of its operations.<\/p>\n<p>\n        <b><br \/>\n          <i>Vessel Operating Expenses<\/i><br \/>\n        <\/b>.\u00a0Vessel operating expenses increased by 3.6% to <span class=\"xn-money\">$55<\/span>.8\u00a0million for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, from <span class=\"xn-money\">$53<\/span>.9\u00a0million for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>. Average daily vessel operating expenses increased by <span class=\"xn-money\">$322<\/span> per vessel per day, or 4.1%, to <span class=\"xn-money\">$8,115<\/span> per vessel per day for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, compared to <span class=\"xn-money\">$7,793<\/span> per vessel per day for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>. This was primarily due to\u00a0a general reduction in vessel operating expenses across the fleet in the six months ended <span class=\"xn-chron\">June 30, 2020<\/span> as a result of COVID-19, which resulted in operating costs being deferred to subsequent quarters.<\/p>\n<p>\n        <b><br \/>\n          <i>Depreciation and Amortization<\/i><br \/>\n        <\/b>.\u00a0Depreciation and amortization expense increased by 0.4% to <span class=\"xn-money\">$38<\/span>.5\u00a0million for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, from <span class=\"xn-money\">$38<\/span>.4\u00a0million for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>. Depreciation and amortization expense included amortization of capitalized drydocking costs of <span class=\"xn-money\">$4<\/span>.3\u00a0million and <span class=\"xn-money\">$4.1 million<\/span> for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span> and 2020 respectively. \u00a0<\/p>\n<p>\n        <b><br \/>\n          <i>General and Administrative Costs<\/i><br \/>\n        <\/b>.\u00a0General and administrative costs increased by <span class=\"xn-money\">$1<\/span>.5\u00a0million or 14.0% to <span class=\"xn-money\">$12<\/span>.6\u00a0million for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, from <span class=\"xn-money\">$11<\/span>.0\u00a0million for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>. This increase in general and administrative costs was primarily due to additional insurance costs of <span class=\"xn-money\">$0.9 million<\/span> for D&amp;O insurances. \u00a0<\/p>\n<p>\n        <b><br \/>\n          <i>Non-operating Results \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/i><br \/>\n        <\/b>\n      <\/p>\n<p>\n        <b><br \/>\n          <i>Foreign Currency Exchange (Loss)\/Gain on Senior Secured Bonds<\/i><br \/>\n        <\/b>.\u00a0Exchange gains and losses relate to non-cash movements on our 600 million Norwegian <span class=\"xn-money\">Kroner 2018<\/span> Bonds which are translated to U.S. Dollars at the prevailing exchange rate as of <span class=\"xn-chron\">June 30, 2021<\/span>. The foreign currency exchange gain of <span class=\"xn-money\">$0.3 million<\/span> for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span> was as a result of the Norwegian Kroner weakening against the U.S. dollar, being <span class=\"xn-money\">NOK 8.6<\/span> to <span class=\"xn-money\">USD 1.0<\/span> as of <span class=\"xn-chron\">June 30, 2021<\/span> compared to <span class=\"xn-money\">NOK 8.5<\/span> to <span class=\"xn-money\">USD 1.0<\/span> as of <span class=\"xn-chron\">December 31, 2020<\/span>. The foreign currency exchange gain of <span class=\"xn-money\">$6.6 million<\/span> for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span> was as a result of the Norwegian Kroner weakening against the U.S. dollar, being <span class=\"xn-money\">NOK 9.7<\/span> to <span class=\"xn-money\">USD 1.0<\/span> as of <span class=\"xn-chron\">June 30, 2020<\/span> compared to <span class=\"xn-money\">NOK 8.8<\/span> to <span class=\"xn-money\">USD 1.0<\/span> as of <span class=\"xn-chron\">December 31, 2019<\/span>.<\/p>\n<p>\n        <b><br \/>\n          <i>Unrealized Gain\/(Loss) on Non-designated Derivative Instruments<\/i><br \/>\n        <\/b>.\u00a0The unrealized gain on non-designated derivative instruments of <span class=\"xn-money\">$0<\/span>.3\u00a0million for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span> relates to the fair value movement in our cross-currency interest rate swap and is primarily due to the weakening of the Norwegian Kroner against the U.S. dollar. The unrealized loss on this swap for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span> was <span class=\"xn-money\">$7.6 million<\/span> as a result of the significant volatility between the Norwegian Kroner and the U.S. dollar due to uncertainties surrounding COVID-19 during the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>. <\/p>\n<p>\u00a0<b><i>Interest Expense<\/i><\/b>.\u00a0Interest expense decreased by <span class=\"xn-money\">$5<\/span>.1\u00a0million, or 22.3%, to <span class=\"xn-money\">$17.6 million<\/span> for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, from <span class=\"xn-money\">$22<\/span>.7\u00a0million for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>. This is primarily as a result of a reduction in 3-month US LIBOR interest rates.<\/p>\n<p>\n        <b><br \/>\n          <i>Income Taxes<\/i><br \/>\n        <\/b>.\u00a0Income taxes related to taxes on our subsidiaries incorporated in the <span class=\"xn-location\">United Kingdom<\/span>, <span class=\"xn-location\">Poland<\/span> and <span class=\"xn-location\">Singapore<\/span> and our consolidated variable interest entity (&#8220;VIE&#8221;), incorporated in <span class=\"xn-location\">Malta<\/span>. For the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, we had a tax charge of <span class=\"xn-money\">$335,000<\/span>, similar to taxes of <span class=\"xn-money\">$336,000<\/span> for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>.<\/p>\n<p>\n        <b><br \/>\n          <i>Share of result of equity accounted joint venture<\/i><br \/>\n        <\/b>.\u00a0The share of result of the Company&#8217;s 50% ownership in the Export Terminal Joint Venture was a gain of <span class=\"xn-money\">$1<\/span>.4\u00a0million for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span> compared to a loss of <span class=\"xn-money\">$3.2 million<\/span> for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>, primarily as a result of increased volumes of product through the Marine Export Terminal during the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, compared to the initial volumes for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>, following the terminal becoming operational in <span class=\"xn-chron\">December 2019<\/span>. <\/p>\n<p>\n        <b><br \/>\n          <i>Non-Controlling Interest.<\/i><br \/>\n        <\/b>\u00a0We have entered into a sale and leaseback arrangement with a wholly-owned special purpose vehicle (&#8220;lessor SPV&#8221;) of a financial institution. While we do not hold any equity investments in this lessor SPV, we have determined that we are the primary beneficiary of this entity and accordingly, we are required to consolidate this VIE into our financial results. Thus, the income attributable to the financial institution of <span class=\"xn-money\">$0.9 million<\/span> is presented as the non-controlling interest in our financial results.<\/p>\n<p>\n        <b><br \/>\n          <u>Reconciliation of Non-GAAP Financial Measures <\/u><br \/>\n        <\/b>\n      <\/p>\n<p>The following table sets forth a reconciliation of net income attributable to the stockholders of the Company to EBITDA and Adjusted EBITDA for the three and six months ended <span class=\"xn-chron\">June 30, 2020<\/span> and 2021: <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen11 prnpr8\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen18\">\n<p class=\"prnmr20\">\n                <span class=\"prnews_span\">(in\u00a0thousands)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen18\">\n<p class=\"prnmr20\">\n                <span class=\"prnews_span\">(in\u00a0thousands)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen5\">\n<p class=\"prnmr20\">\n                <span class=\"prnews_span\">Three months ended<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnmr20\">\n                <span class=\"prnews_span\">Six months ended<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">June 30,<br \/>2020<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">June 30,<br \/>2021<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">June 30,<br \/>2020<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">June 30,<br \/>2021<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income \/ (loss) attributable to the stockholders <br \/>\u00a0\u00a0\u00a0\u00a0of Navigator Holdings Ltd<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a03,008<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 305<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 (5,154)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a03,125<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net interest expense<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,032<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,584<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,353<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">17,514<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Income taxes<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">168<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">190<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">336<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">335<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Depreciation and amortization<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">19,151<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">19,230<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38,361<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38,503<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">EBITDA<sup>(1)<\/sup><\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a033,359<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a028,309<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a055,896<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a059,477<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Foreign currency exchange (gain) \/ loss on senior <br \/>\u00a0\u00a0\u00a0\u00a0secured bonds<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,852<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(330)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,565)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(338 )<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Unrealized loss \/ (gain) on non-designated <br \/>\u00a0\u00a0\u00a0\u00a0derivative instruments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,354)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">269<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,607<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(278)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted EBITDA<sup>(1)<\/sup><\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a031,857<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a028,248<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a056,938<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a058,861<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <sup>1<\/sup>\u00a0EBITDA and Adjusted EBITDA are not measurements prepared in accordance with U.S. GAAP (non-GAAP financial measures). EBITDA represents net income attributable to stockholders of the Company before net interest expense, income taxes and depreciation and amortization. We define Adjusted EBITDA as EBITDA before foreign currency exchange gain or loss on senior secured bonds and unrealized gain or loss on non-designated derivative instruments. Management believes that EBITDA and Adjusted EBITDA are useful to investors in evaluating the operating performance of the Company. EBITDA and Adjusted EBITDA do not represent and should not be considered alternatives to consolidated net income, cash generated from operations or any measure prepared in accordance with U.S. GAAP, and our calculation of EBITDA and Adjusted EBITDA may not be comparable to that reported by other companies. See the table above for a reconciliation of EBITDA and Adjusted EBITDA to net income \/ (loss) attributable to stockholders of the Company, our most directly comparable U.S. GAAP financial measure.<\/p>\n<p>\n        <b>Our Fleet <\/b>\n      <\/p>\n<p>The following table sets forth details as of <span class=\"xn-chron\">August 16, 2021<\/span> for the vessels we owned as of <span class=\"xn-chron\">June 30, 2021<\/span>: <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td nowrap=\"nowrap\" class=\"prnvab prnsbbs prnpl6 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <u>Operating Vessel<\/u><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Year<br \/>Built<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Vessel\u00a0Size<br \/>(cbm)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Employment<br \/>Status<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prnvab prnsbbs prntac prnpl6 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Current<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Cargo<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Charter<br \/>Expiration Date<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Ethylene\/ethane capable semi-<br \/>\u00a0\u00a0\u00a0\u00a0refrigerated<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen20\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Orion*<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2000<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,085<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time Charter<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Ethane<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">October 2021<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Neptune*<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2000<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,085<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Spot Market<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Repairs<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Pluto<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2000<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,085<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Spot Market<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Drydock<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Saturn*<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2000<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,085<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Spot Market<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Venus*<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2000<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,085<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Spot Market<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Ethane<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Atlas*<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2014<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21,000<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Spot Market<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Ethylene<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Europa*<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2014<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21,000<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Spot Market<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Butadiene<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Oberon*<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2014<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21,000<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time Charter<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">LPG<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">September 2021<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Triton*<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2015<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21,000<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Spot Market<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Ethane<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Umbrio*<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2015<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21,000<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Spot Market<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Ethylene<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Aurora<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2016<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">37,300<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time Charter<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Ethane<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December 2026<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Eclipse<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2016<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">37,300<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time Charter<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Ethane<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">March 2022<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Nova<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2017<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">37,300<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time Charter<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Ethane<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">September 2023<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Prominence<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2017<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">37,300<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time Charter<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Ethane<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December 2021<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen20\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Semi-refrigerated<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen20\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Magellan<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1998<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20,700<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Spot market<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Propylene<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Aries<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2008<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20,750<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time charter<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">LPG<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">November 2021<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Capricorn<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2008<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20,750<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Spot market<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">LPG<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Gemini<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2009<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20,750<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Spot market<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Pegasus<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2009<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,200<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time charter<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Propylene<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">March 2022<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Phoenix<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2009<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,200<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time charter<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">LPG<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">May 2022<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Scorpio<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2009<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20,750<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Spot market<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Taurus<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2009<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20,750<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Spot market<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">LPG<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Virgo<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2009<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20,750<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Spot market<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Leo<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2011<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20,600<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time charter<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">LPG<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December 2023<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Libra<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2012<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20,600<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time charter<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">LPG<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December 2023<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Centauri<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2015<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21,000<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time charter<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">LPG<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">May 2022<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Ceres<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2015<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21,000<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time charter<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">LPG<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">June 2022<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Ceto<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2016<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21,000<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time charter<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">LPG<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">May 2022<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Copernico<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2016<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21,000<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Spot market<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">LPG<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Luga<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2017<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,000<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time charter<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">LPG<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">February 2022<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Yauza<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2017<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,000<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time charter<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">LPG<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">April 2022<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen20\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Fully-refrigerated<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen20\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Glory<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2010<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,500<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time charter<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Ammonia<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">May 2022<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Grace<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2010<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,500<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time charter<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">LPG<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">August 2021<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Galaxy<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2011<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,500<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time charter<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Ammonia<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">November 2021<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Genesis<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2011<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,500<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time charter<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Ammonia<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">January 2022<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Global<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2011<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,500<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time charter<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">LPG<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">January 2022<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Gusto<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2011<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,500<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time charter<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">LPG<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December 2021<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Navigator Jorf<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2017<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38,000<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time charter<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Ammonia<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">August 2027<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b><br \/>\n          <i>*denotes our owned vessels that operate within the Luna Pool<br \/><\/i><br \/>\n        <\/b>\n      <\/p>\n<p>\n        <b>Conference Call Details: <\/b>\n      <\/p>\n<p>Tomorrow, <span class=\"xn-chron\">Tuesday, August 17, 2021<\/span> at <span class=\"xn-chron\">10:00 A.M. ET<\/span>, the Company&#8217;s management team will host a conference call to discuss the financial results.<\/p>\n<p>\n        <b>Conference Call Details:<\/b>\n      <\/p>\n<p>Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 1 (877) 553-9962 (US Toll Free Dial In), 0 (808) 238-0669 (UK Toll Free Dial In) or +44 (0) 2071 928592 (Standard International Dial In). Please quote &#8220;Navigator&#8221; to the operator.<\/p>\n<p>A telephonic replay of the conference and accompanying slides will be available following the completion of the call and will remain available until <span class=\"xn-chron\">Tuesday, August 24, 2021<\/span>. To listen to the archived audio file, visit our website <a target=\"_blank\" href=\"http:\/\/www.navigatorgas.com\/\" rel=\"nofollow noopener\">www.navigatorgas.com<\/a> and click on &#8216;Key Dates&#8217; under our &#8216;Investors Centre&#8217; page.<\/p>\n<p>\n        <b>Audio Webcast:<\/b>\n      <\/p>\n<p>There will also be a live, and then archived, webcast of the conference call, available through the Company&#8217;s website (<a target=\"_blank\" href=\"http:\/\/www.navigatorgas.com\/\" rel=\"nofollow noopener\">www.navigatorgas.com<\/a>). Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.<\/p>\n<p>\n        <b>Navigator Gas <\/b>\n      <\/p>\n<p>\n        <b>Attention: Investor Relations Department \u00a0&#8211; <a target=\"_blank\" href=\"mailto:investorrelations@navigatorgas.com\" rel=\"nofollow noopener\">investorrelations@navigatorgas.com<\/a><\/b>\n      <\/p>\n<p>London:\u00a010 Bressenden Place, <span class=\"xn-location\">London<\/span>, SW1E 5DH. Tel: +44 (0)20 7340 4850 <\/p>\n<p>\n        <b>About Us <\/b>\n      <\/p>\n<p>Navigator Holdings Ltd. is the owner and operator of the world&#8217;s largest fleet of handysize liquefied gas carriers and a global leader in the seaborne transportation services of petrochemical gases, such as ethylene and ethane, liquefied petroleum gas (&#8220;LPG&#8221;) and ammonia and owns a 50% share, through a joint venture, in an ethylene export marine terminal at <span class=\"xn-location\">Morgan&#8217;s<\/span><span class=\"xn-location\">Point, Texas<\/span> on the Houston Ship Channel, <span class=\"xn-location\">USA<\/span>. On <span class=\"xn-chron\">August 4, 2021<\/span>, Navigator announced that it merged the fleet and business activities of Ultragas ApS with its own, adding an additional 18 vessels to the fleet. The transaction unites two leading gas shipping companies. Navigator&#8217;s combined fleet now consists of 56 semi- or fully-refrigerated liquefied gas carriers, 22 of which are ethylene and ethane capable.\u00a0 The Company plays a vital role in the liquefied gas supply chain for energy companies, industrial consumers and commodity traders, with its sophisticated vessels providing an efficient and reliable &#8216;floating pipeline&#8217; between the parties, connecting the world today, creating a sustainable tomorrow.<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td colspan=\"3\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>NAVIGATOR HOLDINGS LTD. <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Condensed Consolidated Balance Sheets <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(Unaudited) <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December\u00a031,\u00a02020<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">June 30,\u00a02021<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(in thousands, except share data)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Assets<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Current assets<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash, cash equivalents and restricted cash<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 59,271<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 96,356<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accounts receivable, net of allowance for credit losses of $228,000, (December 31, 2020: nil)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,451<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,457<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accrued income<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20,073<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,765<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Prepaid expenses and other current assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,015<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">17,047<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Bunkers and lubricant oils<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,428<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,196<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Insurance Receivable<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">447<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,651<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Amounts due from related parties<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,853<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,141<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total current assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">136,538<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">162,613<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Non-current assets<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Vessels, net<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,545,688<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,515,780<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Property, plant and equipment, net<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">502<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">527<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Intangible assets, net of accumulated amortization of $295 (December 31, 2020: $279)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">277<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">242<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Investment in equity accounted joint venture<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">148,665<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">147,213<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Derivative assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">215<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Right-of-use asset for operating leases<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,701<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,137<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Prepaid expenses and other non-current assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,037<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,522<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total non-current assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,702,870<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,670,636<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total assets<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a01,839,408<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a01,833,249<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Liabilities and stockholders&#8217; equity<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Current liabilities<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Current portion of secured term loan facilities, net of deferred financing costs<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 65,662<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 86,715<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Current portion of operating lease liabilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,276<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,254<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accounts payable<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,565<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,990<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accrued expenses and other liabilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,488<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21,921<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accrued interest<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,398<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,209<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Deferred income<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,604<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,824<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Amounts due to related parties<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">229<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">206<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total current liabilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">107,222<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">137,119<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Non-current liabilities<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Secured term loan facilities and revolving credit facilities, net of current portion and deferred financing <br \/>\u00a0\u00a0\u00a0\u00a0costs<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">552,595<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">515,989<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Senior secured bond, net of deferred financing costs<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">69,580<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">69,368<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Senior unsecured bond, net of deferred financing costs<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">98,158<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">98,355<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Derivative liabilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,007<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,943<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating lease liabilities, net of current portion<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,232<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,681<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Amounts due to related parties<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">61,219<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">57,881<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total non-current liabilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">789,791<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">749,217<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total Liabilities<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">897,013<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">886,336<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Commitments and contingencies<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Stockholders&#8217; equity<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Common stock\u2014$.01 par value per share; 400,000,000 shares authorized; 55,971,121 shares issued and <br \/>\u00a0\u00a0\u00a0\u00a0outstanding, (December 31, 2020: 55,893,618)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">559<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">560<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Additional paid-in capital<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">593,254<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">593,830<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accumulated other comprehensive loss<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(245)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(212)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Retained earnings<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">346,972<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">350,097<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total Navigator Holdings Ltd. stockholders&#8217; equity<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">940,540<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">944,275<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Non-controlling interest<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,855<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,638<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total equity<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">942,395<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">946,913<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total liabilities and stockholders&#8217; equity<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a01,839,408<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a01,833,249<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td colspan=\"5\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>NAVIGATOR HOLDINGS LTD.<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Condensed Consolidated Statements of Operations <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(Unaudited) <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Three months ended<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">June 30,<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Six months ended<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">June 30,<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen28\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2020<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen28\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2021<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2020<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2021<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnvab prntac prnpl6 prnpr8\">\n              \n            <\/td>\n<td colspan=\"4\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(in\u00a0thousands\u00a0except\u00a0share\u00a0and\u00a0per\u00a0share data)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating revenue<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a079,869<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a080,278<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 161,126<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 160,786<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating revenue- Luna Pool collaborative arrangement<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,596<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,579<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,596<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,819<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total operating revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">82,465<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">85,857<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">163,722<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">171,605<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Expenses<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Brokerage commissions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,305<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">974<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,560<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,167<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Voyage expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,728<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">17,749<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">32,272<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">33,365<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Voyage expenses \u2013 Luna Pool collaborative arrangement<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,043<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,479<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,043<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,611<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Vessel operating expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">26,493<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">28,826<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">53,899<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">55,818<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Depreciation and amortization<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">19,151<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">19,230<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38,361<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38,503<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">General and administrative costs<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,509<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,276<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,017<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12,556<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(117)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(88)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(117)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(160)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total operating expenses<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">69,112<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">78,446<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">141,035<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">151,860<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Operating income<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,353<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,411<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,687<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">19,745<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Other income \/ (expense)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Foreign currency exchange gain \/ (loss) on senior secured bonds<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,852)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">330<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,565<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">338<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Unrealized gain \/ (loss) on non-designated derivative instruments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,354<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(269)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(7,607 )<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">278<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Interest expense<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(11,128)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(8,647)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(22,668)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(17,608)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Interest income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">96<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">63<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">315<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">94<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(Loss) \/ income before income taxes and share of result of equity <br \/>\u00a0\u00a0\u00a0\u00a0accounted joint venture<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,823<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,112)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(708)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,847<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Income taxes<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(168)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(190)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(336)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(335)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share of result of equity accounted joint ventures<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(164)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,001<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,205)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,396<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income \/ (loss)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,491<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">699<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,249)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,908<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income attributable to non-controlling interest<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(483)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(394)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(905)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(783)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net income \/ (loss) attributable to stockholders of Navigator <br \/>\u00a0\u00a0\u00a0\u00a0Holdings Ltd<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a03,008<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 305<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 (5,154 )<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a03,125<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Earnings \/ (Loss) per share attributable to stockholders of Navigator <br \/>\u00a0\u00a0\u00a0\u00a0Holdings Ltd.:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Basic and diluted:<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a00.05<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a00.01<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0(0.09)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a00.06<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Weighted average number of shares outstanding:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Basic:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">55,905,600<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">55,971,121<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">55,871,893<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">55,935,859<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Diluted:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">56,253,778<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">56,306,577<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">55,871,893<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">56,273,533<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td colspan=\"3\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>NAVIGATOR HOLDINGS LTD.<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Condensed Consolidated Statements of Cash Flows<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(Unaudited) <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Six\u00a0Months\u00a0ended<br \/>June 30,<br \/>2020<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Six\u00a0Months\u00a0ended<br \/>June 30,<br \/>2021<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(in thousands)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Cash flows from operating activities<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income \/ (loss)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 (4,249)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a03,908<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Adjustments to reconcile net income to net cash provided by operating activities<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Unrealized (gain)\/loss on non-designated derivative instruments<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,607<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(278)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Depreciation and amortization<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38,361<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38,503<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Payment of drydocking costs<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,546)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(10,061)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Amortization of share-based compensation<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">539<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">577<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Amortization of deferred financing costs<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,251<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,644<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share of result of equity accounted joint venture, net of distributions received<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,205<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(512)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Insurance claim receivable<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(620)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,615)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Impairment of vessel<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,000<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Unrealized foreign exchange loss\/(gain) on senior secured bonds<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,565)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(338)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other unrealized foreign exchange gain<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(440 )<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Changes in operating assets and liabilities<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accounts receivable<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,366<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(8,006)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Bunkers and lubricant oils<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">490<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,768)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accrued income and prepaid expenses and other current assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(9,986)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">18,623<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accounts payable, accrued interest, accrued expenses and other liabilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,637<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,316<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Amounts due to related parties<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">686<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,689<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net cash provided by operating activities<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">32,736<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">54,696<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Cash flows from investing activities<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Payments to acquire ballast water systems<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(982)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(323)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Investment in equity accounted joint venture<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(7,500)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,000)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Distributions from equity accounted joint venture<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,966<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Purchase of other property, plant and equipment<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(19)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(193)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Insurance recoveries<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">609<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">411<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net cash (used in) \/ provided by investing activities<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(7,892)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,861<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Cash flows from financing activities<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Proceeds from secured term loan facilities and revolving credit facilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,500<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">18,000<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Issuance costs of secured bond<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(141)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Issuance costs of secured term loan facilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(26)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Issuance costs of refinancing of vessel to related parties<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(18)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Repayment of financing of vessel to related parties<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,724)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,342)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Issuance costs of Terminal Facility<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(72)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Repayment of secured term loan facilities and revolving credit facilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(33,267)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(34,104)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net cash used in financing activities<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(29,722)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(19,472)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net (decrease) \/ increase in cash, cash equivalents and restricted cash<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,878 )<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">37,085<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Cash, cash equivalents and restricted cash at beginning of period<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">66,130<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">59,271<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Cash, cash equivalents and restricted cash at end of period<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 61,252<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 96,356<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Supplemental Information<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total interest paid during the period, net of amounts capitalized<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 20,559<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 16,045<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total tax paid during the period<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 110<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 192<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>IMPORTANT INFORMATION REGARDING FORWARD-LOOKING STATEMENTS <\/b>\n      <\/p>\n<p>This press release contains certain forward-looking statements concerning plans and objectives of management for future operations or economic performance, or assumptions related thereto, including our trends or forecasts. In addition, we and our representatives may from time to time make other oral or written statements that are also forward-looking statements. Such statements include, in particular, statements about our plans, strategies, business prospects, changes and trends in our business and the markets in which we operate as described in this press release. In some cases, you can identify the forward-looking statements by the use of words such as &#8220;may,&#8221; &#8220;could,&#8221; &#8220;should,&#8221; &#8220;would,&#8221; &#8220;expect,&#8221; &#8220;plan,&#8221; &#8220;anticipate,&#8221; &#8220;intend,&#8221; &#8220;forecast,&#8221; &#8220;believe,&#8221; &#8220;estimate,&#8221; &#8220;predict,&#8221; &#8220;propose,&#8221; &#8220;potential,&#8221; &#8220;continue,&#8221; &#8220;scheduled,&#8221; or the negative of these terms or other comparable terminology. Forward-looking statements appear in a number of places in this press release. These risks and uncertainties include but are not limited to: <\/p>\n<ul type=\"disc\">\n<li>the completion of the Company&#8217;s quarter-end close procedures and further financial review with respect to the Company&#8217;s financial statements for the quarter ended <span class=\"xn-chron\">June 30, 2021<\/span>, and other developments that may arise between now and the disclosure of the Company&#8217;s final results for such quarter; <\/li>\n<li>global epidemics or other health crises such as the outbreak of COVID-19, including its impact on our business; <\/li>\n<li>future operating or financial results; <\/li>\n<li>pending acquisitions, business strategy and expected capital spending; <\/li>\n<li>operating expenses, availability of crew, number of off-hire days, drydocking requirements and insurance costs; <\/li>\n<li>fluctuations in currencies and interest rates; <\/li>\n<li>general market conditions and shipping market trends, including charter rates and factors affecting supply and demand; <\/li>\n<li>our ability to continue to comply with all our debt covenants; <\/li>\n<li>our financial condition and liquidity, including our ability to refinance our indebtedness as it matures or obtain additional financing in the future to fund capital expenditures, acquisitions and other corporate activities; <\/li>\n<li>estimated future capital expenditures needed to preserve our capital base; <\/li>\n<li>our expectations about the availability of vessels to purchase, the time that it may take to construct new vessels, or the useful lives of our vessels; <\/li>\n<li>our continued ability to enter into long-term, fixed-rate time charters with our customers; <\/li>\n<li>the availability and cost of low sulfur fuel oil compliant with the International Maritime Organization sulfur emission limit reductions, generally referred to as &#8220;IMO 2020,&#8221; which took effect <span class=\"xn-chron\">January 1, 2020<\/span>; <\/li>\n<li>our vessels engaging in ship to ship transfers of LPG or petrochemical cargoes which may ultimately be discharged in sanctioned areas or to sanctioned individuals without our knowledge; <\/li>\n<li>changes in governmental rules and regulations or actions taken by regulatory authorities; <\/li>\n<li>potential liability from future litigation; <\/li>\n<li>our expectations relating to the payment of dividends; <\/li>\n<li>our ability to successfully remediate material weaknesses in our internal control over financial reporting and our disclosure controls and procedures; <\/li>\n<li>our expectation regarding providing in-house technical management for certain vessels in our fleet and our success in providing such in-house technical management; <\/li>\n<li>our expectations regarding the financial success of the Marine Export Terminal and our related Export Terminal Joint Venture; <\/li>\n<li>our expectations regarding the integration, profitability and success of the vessels and businesses acquired in the Ultragas transaction; and <\/li>\n<li>other factors detailed from time to time in other periodic reports we file with the Securities and Exchange Commission. <\/li>\n<\/ul>\n<p>All forward-looking statements included in this press release are made only as of the date of this press release. New factors emerge from time to time, and it is not possible for us to predict all of these factors. Further, we cannot assess the impact of each such factor on our business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement. We expressly disclaim any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in our views or expectations, or otherwise. We make no prediction or statement about the performance of our common stock.<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=LN76716&amp;sd=2021-08-16\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/navigator-holdings-ltd-preliminary-second-quarter-2021-results-unaudited-301356201.html\">https:\/\/www.prnewswire.com\/news-releases\/navigator-holdings-ltd-preliminary-second-quarter-2021-results-unaudited-301356201.html<\/a><\/p>\n<p>SOURCE  Navigator Gas<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=LN76716&amp;Transmission_Id=202108161630PR_NEWS_USPR_____LN76716&amp;DateId=20210816\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire LONDON, Aug. 16, 2021 \/PRNewswire\/ &#8212; Highlights Navigator Holdings Ltd. (the &#8220;Company&#8221;, &#8220;we&#8221;, &#8220;our&#8221; and &#8220;us&#8221;) (NYSE: NVGS) reported operating revenue of $85.9 million for the three months ended June 30, 2021, compared to $82.5 million for the three months ended June 30, 2020. Net income was $0.3 million (earnings per share of $0.01) for the three months ended June 30, 2021, compared to a net income of $3.0 million (earnings per share of $0.05) for the three months ended June 30, 2020. Adjusted EBITDA(1) was $28.2 million for the three months ended June 30, 2021, compared to $31.9 million for the three months ended June 30, 2020. Fleet utilization was 85.4% for the three months ended June &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/navigator-holdings-ltd-preliminary-second-quarter-2021-results-unaudited\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Navigator Holdings Ltd. Preliminary Second Quarter 2021 Results (Unaudited)&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-528612","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Navigator Holdings Ltd. Preliminary Second Quarter 2021 Results (Unaudited) - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/navigator-holdings-ltd-preliminary-second-quarter-2021-results-unaudited\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Navigator Holdings Ltd. Preliminary Second Quarter 2021 Results (Unaudited) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire LONDON, Aug. 16, 2021 \/PRNewswire\/ &#8212; Highlights Navigator Holdings Ltd. (the &#8220;Company&#8221;, &#8220;we&#8221;, &#8220;our&#8221; and &#8220;us&#8221;) (NYSE: NVGS) reported operating revenue of $85.9 million for the three months ended June 30, 2021, compared to $82.5 million for the three months ended June 30, 2020. Net income was $0.3 million (earnings per share of $0.01) for the three months ended June 30, 2021, compared to a net income of $3.0 million (earnings per share of $0.05) for the three months ended June 30, 2020. Adjusted EBITDA(1) was $28.2 million for the three months ended June 30, 2021, compared to $31.9 million for the three months ended June 30, 2020. Fleet utilization was 85.4% for the three months ended June &hellip; Continue reading &quot;Navigator Holdings Ltd. 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