Navigator Holdings reports preliminary Q4 EPS 14c, consensus 6c
Reports preliminary operating revenue $75.5M. Revenue consensus $57.35M. Reports preliminary average fleet TCE $22,758 per day vs. $30,282 last year. Reports preliminary fleet utilization 89.5% vs. 92.7%, with company remarking that "this decrease from last year was primarily due to weaker demand for our vessels as a result of the softening of the LPG seaborne transportation market during 2H." Says "we took delivery of four newbuilding vessels during 2016, increasing our fleet to 33 vessels on the water as at December 31. In 2017 we have taken delivery of an additional two newbuildings, with the three remaining newbuildings expected to be delivered by July... In February 2017, two of our original ethylene carriers were placed on long-term time charters that will commence in either late 2017 or early 2018 with Braskem."