08:48 AM EDT, 07/17/2025 (MT Newswires) -- Navigator Holdings ( NVGS ) said Thursday it has entered a joint venture with Amon Maritime to build two ammonia-fueled gas carriers.

Navigator will own 80% of the Norway-based joint entity, while Amon Maritime will hold 20%, the company said.

The vessels, each with a 51,530-cubic-meter capacity, will also carry liquefied petroleum gas, Navigator said.

They will be built by Nantong CIMC Sinopacific Offshore & Engineering, the company said, and delivered in June and October 2028 at $84 million per ship.

The company also said each vessel received about $9 million in grants from Norway's Enova, and the remaining costs will be covered through commercial loans and capital contributions from both companies.

Shares of Navigator were up by over 2% in recent Thursday premarket activity.