Navigator shifts ships to spot market to grab strong rates after record second quarter

Navigator Holdings is gearing up for market strength by keeping a higher number of ships in the spot market, as company executives posted operational earnings that reached record levels in the second quarter.

The New York-listed gas carrier owner said in its second-quarter earnings report that it has 15 ships in the spot market, with 32 on time charters and another nine vessels in the Unigas pool.