LONDON and NEW YORK, Sept. 01, 2022 (GLOBE NEWSWIRE) — Navigator Holdings Ltd. (“Navigator”) (NYSE: NVGS), the owner and operator of the world’s largest fleet of handysize liquefied gas carriers, announced today that it has successfully joined the Maritime Anti-Corruption Network (“MACN”), a global business network dedicated to a maritime industry free of corruption.
Mads Peter Zacho, Navigator’s CEO, commented:
“Conducting business ethically is fundamental to the identity and core values of Navigator. Joining the Maritime Anti-Corruption Network demonstrates our commitment to carrying out business with honesty and integrity across all of our commercial activities.
“MACN’s vision to remove corruption from the maritime industry aligns strongly with our own values which aim for a fairer, more transparent and sustainable maritime industry. Navigator is proud to become part of this important network, alongside many of our peers across the globe.”
Cecilia Müller Torbrand, MACN’s CEO, said:
“I am pleased to welcome Navigator gas into MACN. Navigator Gas has an outstanding reputation and plays an important role in the global liquefied gas supply chain. Navigator’s work with energy companies, industrial users, and commodity traders globally will provide MACN with a valuable perspective on the gas sector. They are experts at connecting producers and end users and all aspects of integrated logistics and are well placed to help MACN promote integrity throughout the supply chain.”
MACN is a global business network working towards the vision of a maritime industry free of corruption that enables fair trade to the benefit of society at large. Established in 2011 by a small group of committed maritime companies, MACN has grown to include over 165 companies globally, and has become one of the pre-eminent examples of collective action to tackle corruption.
MACN and its members work towards the elimination of all forms of maritime corruption by: raising awareness of the challenges faced; implementing the MACN Anti-Corruption Principles and co-developing and sharing best practices; collaborating with governments, non-governmental organizations, and civil society to identify and mitigate the root causes of corruption; and creating a culture of integrity within the maritime community.
About Navigator Gas
Navigator Holdings Ltd. is the owner and operator of the world’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 (“LPG”) and ammonia and owns a 50% share, through a joint venture, in an ethylene export marine terminal at Morgan’s Point, Texas on the Houston Ship Channel, USA. Navigator’s fleet consists of 53 semi- or fully-refrigerated liquefied gas carriers, 21 of which are ethylene and ethane capable. 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 ‘floating pipeline’ between the parties, connecting the world today, creating a sustainable tomorrow.
Navigator’s common stock trades on the New York Stock Exchange under the symbol “NVGS”.
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