President-elect Donald Trump is expected to select billionaire shipowner Wilbur Ross Jr as secretary of the Commerce Department, the Wall Street Journal reported today, citing two people familiar with the deliberations. The commerce secretary, a cabinet-level position that requires Senate confirmation, typically serves as the government's chief business … [Read more...]
Navigator Holdings Says Petrochem Gas Shipments to Offset LPG Drop
By Swetha Gopinath Jan 14 (Reuters) - Shipper Navigator Holdings Ltd expects continued demand for petrochemical gases in the fourth quarter to make up for a fall in liquefied petroleum gas (LPG) shipments caused by the slump in oil prices, a senior executive told Reuters. Navigator, backed by billionaire-investor Wilbur Ross, expects a utilization rate of about 97 percent … [Read more...]
Navigator Holdings Ltd. – A Case Study on Private Equity Groups
The foray of private equity groups in the shipping industry has been a focal point of discussion in industry forums, ever since the high-profile investments by celebrated investor Wilbur Ross in privately held Diamond S Shipping Group (a company specializing in suezmax crude oil carriers & medium range petroleum product tankers) & Navigator Holdings Ltd. (a company … [Read more...]
Navigator Holdings Shares Rise 11 Percent in NYSE Debut
Nov 21 (Reuters) - Shares of liquefied gas carrier Navigator Holdings Ltd, controlled by billionaire investor Wilbur Ross, rose as much as 11 percent in their debut, valuing the company at about $1.15 billion. Navigator raised $228 million after its initial public offering was priced at $19 per share, the top end of its expected price range. The company's shares were … [Read more...]
Navigator Holdings Prices IPO at $19
Nov 20 (Reuters) - The liquefied gas carrier Navigator Holdings Ltd, controlled by billionaire investor Wilbur Ross, raised $228 million after its initial public offering was priced at $19 per share, the higher end of its expected range. Of the 12 million common stock sold, Navigator offered 9.03 million shares, while the rest came from the selling shareholders. At the … [Read more...]