Navigator (NVGS) 20-F 27 Mar 24 2023 FY Annual report (foreign) Financial data

Cover Page

Cover Page	12 Months Ended
	Dec. 31, 2023 shares
Entity Addresses [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-36202
Entity Registrant Name	NAVIGATOR HOLDINGS LTD.
Entity Incorporation, State or Country Code	1T
Entity Address, Address Line One	10 Bressenden Place,
Entity Address, City or Town	London,
Entity Address, Postal Zip Code	SW1E 5DH
Entity Address, Country	GB
Title of 12(b) Security	Common Stock
Trading Symbol	NVGS
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding	73,208,586
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	true
Document Financial Statement Restatement Recovery Analysis [Flag]	false
Document Accounting Standard	U.S. GAAP
Entity Shell Company	false
Entity Central Index Key	0001581804
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Amendment Flag	false
Business Contact
Entity Addresses [Line Items]
Entity Address, Address Line One	10 Bressenden Place
Entity Address, City or Town	London
Entity Address, Postal Zip Code	SW1E 5DH
Entity Address, Country	GB
City Area Code	44 20
Local Phone Number	7340 4850
Contact Personnel Name	Gary Chapman

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Audit Information [Abstract]
Auditor Firm ID	876
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Watford, United Kingdom

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash, cash equivalents and restricted cash	$ 158,242	$ 153,194
Accounts receivable, net of allowance for credit losses	34,653	18,245
Accrued income	2,437	9,367
Prepaid expenses and other current assets	17,068	21,152
Bunkers and lubricant oils	9,044	8,548
Insurance receivable	526	1,452
Amounts due from related parties	33,402	16,363
Total current assets	255,372	228,321
Non-current assets
Vessels, net	1,754,382	1,692,494
Property, plant and equipment, net	142	198
Intangible assets, net of accumulated amortization	332	239
Equity method investments	174,910	148,534
Derivative assets	14,674	21,955
Right-of-use asset for operating leases	2,873	3,625
Prepaid expenses and other non- current assets	0	1,372
Total non-current assets	1,947,313	1,868,417
Total assets	2,202,685	2,096,738
Current liabilities
Current portion of secured term loan facilities, net of deferred financing costs	120,327	99,009
Current portion of operating lease liabilities	914	219
Accounts payable	11,643	7,773
Accrued expenses and other liabilities	20,847	24,708
Accrued interest	5,488	4,211
Deferred income	25,617	23,108
Amounts due to related parties	606	595
Total current liabilities	185,442	159,623
Non-current liabilities
Secured term loan and revolving credit facilities, net of current portion and deferred financing costs	641,975	608,338
Senior unsecured bond, net of deferred financing costs	90,336	98,943
Operating lease liabilities, net of current portion	3,500	4,032
Deferred tax liabilities	7,016	4,250
Amounts due to related parties	41,342	48,140
Total non-current liabilities	784,169	763,703
Total liabilities	969,611	923,326
Commitments and contingencies (see note 13)
Stockholders’ equity
Common stock—$0.01 par value per share; 400,000,000 shares authorized; 73,208,586 shares issued and outstanding (December 31, 2022: 76,804,474)	733	769
Additional paid-in capital	799,472	798,188
Accumulated other comprehensive loss	(152)	(463)
Retained earnings	390,221	364,000
Total Navigator Holdings Ltd. stockholders’ equity	1,190,274	1,162,494
Non-controlling interests	42,800	10,918
Total equity	1,233,074	1,173,412
Total liabilities and equity	$ 2,202,685	$ 2,096,738

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Common stock, authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	73,208,586	76,804,474
Common stock, shares outstanding (in shares)	73,208,586	76,804,474

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues
Operating revenues	$ 493,339	$ 405,346	$ 352,922
Operating revenues—Unigas Pool	50,043	46,345	27,004
Operating revenues—Luna Pool collaborative arrangements	7,355	22,101	26,555
Total operating revenues	550,737	473,792	406,481
Expenses
Brokerage commissions	6,923	5,900	4,802
Voyage expenses	74,509	78,674	71,953
Voyage expenses—Luna Pool collaborative arrangements	5,561	20,716	20,913
Vessel operating expenses	170,952	159,266	131,183
Depreciation and amortization	129,202	126,220	88,486
Impairment losses on vessels	0	0	63,581
Profit from sale of vessel	(4,797)	(4,721)	0
General and administrative costs	31,213	27,439	28,881
Other income	(60)	(364)	(367)
Total operating expenses	413,503	413,130	409,432
Operating (loss)/income	137,234	60,662	(2,951)
Foreign currency exchange gain on senior secured bonds	0	6,589	2,146
Realized loss on cross currency interest rate swap	0	(6,270)	0
Unrealized gain / (loss) on non-designated derivative instruments	(7,282)	25,124	791
Loss on repayment of senior bonds	0	(1,102)	0
Interest expense	(64,898)	(50,840)	(38,682)
Write off of deferred financing costs	(171)	(212)	0
Interest income	5,707	1,082	302
(Loss)/income before income taxes and share of results of equity method investments	70,590	35,033	(38,394)
Income taxes	(4,325)	(5,949)	(1,969)
Share of results of equity method investments	20,607	25,794	11,147
Net (loss)/income	86,872	54,878	(29,216)
Net income attributable to non-controlling interests	(4,617)	(1,405)	(1,748)
Net (loss)/income attributable to stockholders of Navigator Holdings Ltd.	$ 82,255	$ 53,473	$ (30,964)
(Loss)/earnings per share attributable to stockholders of Navigator Holdings Ltd.
Basic (in dollars per share)	$ 1.11	$ 0.69	$ (0.48)
Diluted (in dollars per share)	$ 1.10	$ 0.69	$ (0.48)
Weighted average number of shares outstanding:
Basic (in shares)	74,096,284	77,234,830	64,669,567
Diluted (in shares)	74,607,449	77,558,494	64,669,567

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income/(Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net (loss)/income	$ 86,872	$ 54,878	$ (29,216)
Other comprehensive income/(loss):
Foreign currency translation gain/(loss)	311	(215)	(8)
Total comprehensive (loss)/income	87,183	54,663	(29,224)
Total comprehensive (loss)/income attributable to:
Stockholders of Navigator Holdings Ltd.	82,566	53,263	(30,972)
Non-controlling interests	4,617	1,400	1,748
Total comprehensive (loss)/income	$ 87,183	$ 54,663	$ (29,224)

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Issued March 17, 2021 [Member]	Issued March 17, 2022 [Member]	Common Stock [Member]	Common Stock [Member] Issued March 17, 2021 [Member]	Common Stock [Member] Issued October 31, 2021 [Member]	Common Stock [Member] Issued March 17, 2022 [Member]	Common Stock [Member] Issued April 4, 2022 [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]
Beginning Balance (in shares) at Dec. 31, 2020				55,893,618
Beginning Balance at Dec. 31, 2020	$ 942,395			$ 559					$ 593,254	$ (245)	$ 346,972	$ 1,855
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)				21,202,671
Issuance of common stock	202,910			$ 212					202,698
Restricted shares issued (in shares)					85,263	15,000
Restricted shares issued		$ 1			$ 1
Restricted shares cancelled (in shares)				(16,123)
Net (loss)/income	(29,216)										(30,964)	1,748
Foreign currency translation	(8)									(8)
Share-based compensation plan	1,372								1,372
Ending Balance (in shares) at Dec. 31, 2021				77,180,429
Ending Balance at Dec. 31, 2021	1,117,454			$ 772					797,324	(253)	316,008	3,603
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of common stock (in shares)				(459,665)
Repurchase of common stock	(5,485)			$ (4)							(5,481)
Restricted shares issued (in shares)							75,716	10,000
Restricted shares issued			$ 1				$ 1
Restricted shares cancelled (in shares)				(2,006)
Net (loss)/income	54,878										53,473	1,405
Foreign currency translation	(215)									(210)		(5)
Share-based compensation plan	864								864
Investment by non-controlling interest	$ 5,915											5,915
Ending Balance (in shares) at Dec. 31, 2022	76,804,474			76,804,474
Ending Balance at Dec. 31, 2022	$ 1,173,412			$ 769					798,188	(463)	364,000	10,918
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of common stock (in shares)				(3,643,717)
Repurchase of common stock	(48,736)			$ (36)							(48,700)
Restricted shares issued (in shares)				47,829
Restricted shares issued	0
Net (loss)/income	86,872										82,255	4,617
Foreign currency translation	311									311
Share-based compensation plan	1,284								1,284
Investment by non-controlling interest	27,265											27,265
Dividend paid ($0.10 per share)	$ (7,334)										(7,334)
Ending Balance (in shares) at Dec. 31, 2023	73,208,586			73,208,586
Ending Balance at Dec. 31, 2023	$ 1,233,074			$ 733					$ 799,472	$ (152)	$ 390,221	$ 42,800

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical)	12 Months Ended
	Dec. 31, 2023 $ / shares
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in dollars per share)	$ 0.01
Dividends paid (in dollars per share)	$ 0.01

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Net (loss)/income	$ 86,872	$ 54,878	$ (29,216)
Adjustments to reconcile net income/(loss) to net cash provided by operating activities
Realized loss on cross currency interest rate swap	0	6,270	0
Unrealized (gain)/loss on non-designated derivative instruments	7,282	(25,124)	(791)
Depreciation and amortization	129,202	126,220	88,486
Payment of drydocking costs	(12,424)	(18,338)	(19,944)
Impairment losses on vessels	0	0	63,581
Profit from sale of vessel	(4,797)	(4,721)	0
Share-based compensation expense	1,284	869	1,373
Amortization of deferred financing costs	3,716	3,863	3,668
Share of results of equity method investments	(20,607)	(25,794)	(11,147)
Deferred taxes	2,363	3,842	0
Changes in operating assets and liabilities
Accounts receivable	(16,408)	13,661	(7,874)
Insurance claim receivable	400	(3,858)	(8,007)
Bunkers and lubricant oils	(496)	3,958	(2,703)
Accrued income, prepaid expenses and other current assets	11,013	(9,541)	36,566
Accounts payable, accrued interest, accrued expenses and other liabilities	4,501	6,636	3,211
Amounts to/(from) related parties	(17,039)	1,204	(16,412)
Net cash provided by operating activities	174,702	130,308	97,941
Cash flows from investing activities
Additions to vessels and equipment	(191,727)	(45,719)	(3,150)
Contributions to equity method investments	(36,558)	0	(4,000)
Distributions from equity method investments	30,790	27,469	16,183
Purchase of other property, plant and equipment and intangibles	(233)	(50)	(390)
Cash acquired with investment in Ultragas	0	0	17,477
Net proceeds from sale of vessel	20,720	38,762	4,530
Insurance recoveries	527	9,263	2,407
Net cash provided by/(used in) investing activities	(176,481)	29,725	33,057
Cash flows from financing activities
Proceeds from secured term loan facilities and revolving credit facilities	323,561	139,273	18,000
Direct financing cost of secured term loan and revolving credit facilities	(3,548)	(1,874)	(26)
Repayment of senior bonds	0	(61,564)	0
Repurchase of share capital	(48,736)	(5,485)	0
Settlement of derivatives	0	(11,322)	0
Repayments under operating lease obligations	(289)	0	0
Purchase of senior unsecured bonds	(9,000)	0	0
Repayment of secured term loan facilities and revolving credit facilities	(268,311)	(186,430)	(77,726)
Repayment of refinancing of vessel to related parties	(6,798)	(6,738)	(6,342)
Cash received from non-controlling interest	27,265	5,915	0
Dividends paid	(7,334)	0	0
Net cash (used) in/provided by financing activities	6,810	(128,225)	(66,094)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	17	(2,837)	48
Net increase in cash, cash equivalents and restricted cash	5,048	28,971	64,952
Cash, cash equivalents and restricted cash at beginning of year	153,194	124,223	59,271
Cash, cash equivalents and restricted cash at end of year	158,242	153,194	124,223
Supplemental Information
Total interest paid during the year, net of amounts capitalized	62,109	48,600	33,023
Total tax paid during the year	1,802	2,438	579
Senior Secured Bonds [Member]
Adjustments to reconcile net income/(loss) to net cash provided by operating activities
Realized loss on cross currency interest rate swap	0	(6,589)	(2,146)
Other [Member]
Adjustments to reconcile net income/(loss) to net cash provided by operating activities
Other unrealized foreign exchange loss/(gain)	$ (160)	$ 2,872	$ (704)

Description of the Business

Description of the Business	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Description of the Business	1. Description of the Business Navigator Holdings Ltd. (the “Company”), the ultimate parent company of the Navigator Group of companies, is registered in the Republic of the Marshall Islands. The Company has a core business of owning and operating a fleet of liquefied gas carriers. As of December 31, 2023, the Company owned and operated 56 gas carriers (the “Vessels”) each having a cargo capacity of between 3,770 cbm and 38,000 cbm, of which 26 were ethylene and ethane-capable vessels. The Company also owns a 50% share in a joint venture (the “Export Terminal Joint Venture”) that operates an ethylene export marine terminal at Morgan’s Point, Texas on the Houston Ship Channel (the “Ethylene Export Terminal”). Our Ethylene Export Terminal has the capacity to export approximately one million tons of ethylene per year.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies (a) Basis of Presentation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Management has evaluated the Company’s ability to continue as a going concern and considered the conditions and events that could raise substantial doubt about the Company’s ability to continue as a going concern within 12 months after these financial statements are issued. As part of the assessment, management has included consideration of the following; • the current financial condition and liquidity sources, including current funds available and forecasted future cash flows; • any likely effects of global epidemics or other health crises, such as the COVID-19 pandemic; • the effects of the conflict in Ukraine, Red sea, and the Gaza region on the Company’s business, including potential escalations or wider implications on other countries as well as possible effects of trade disruptions; • environmental regulation affecting vessels' Energy Efficiency Existing Ship Index (“EEXI”); and • total capital contributions required for the Terminal Expansion Project. Management has determined that it is appropriate to continue to adopt the going concern basis in preparing the financial statements. The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries and Variable Interest Entities (“VIE”) for which the Company is a primary beneficiary and which are also consolidated (See Note 8. Variable Interest Entities to our consolidated financial statements). All intercompany accounts and transactions have been eliminated on consolidation. We operate the Ethylene Export Terminal through our 50/50 Export Terminal Joint Venture. Our joint venture partner is the sole managing member of the Export Terminal Joint Venture and it is also the operator of the Ethylene Export Terminal. The Export Terminal Joint Venture is organized as a limited liability company and maintains separate ownership accounts, consequently, we account for our investment using the equity method as our ownership interest is 50% and we exercise joint control over the investee’s operating and financial policies. We disclose our proportionate share of profits and losses from equity method unconsolidated affiliates in the statement of operations and adjust the carrying amount of our equity method investments on the balance sheet accordingly. The carrying amount is recognized initially at cost, which includes interest capitalized from the terminal loan facility utilized during the construction phase. The capitalized interest will be amortized over the useful life of the terminal. After initial recognition, the consolidated financial statements will include the Company’s share of the profit or loss and other comprehensive income (“OCI”) of equity-accounted investees, until the date on which joint control ceases. In March 2020, the Company collaborated with Pacific Gas Pte. Ltd. and Greater Bay Gas to form and manage the Luna Pool as Pool Participants. As part of the formation of the Luna Pool, Luna Pool Agency Limited, (“Pool Agency”) was established. The investment in the Pool Agency created a 50/50 joint venture with Greater Bay Gas as outlined by Accounting Standards Codification (“ASC”) 323 – Investments -Equity Method and Joint Ventures (“ASC 323”). The Company’s investment in Pool Agency is accounted for as an equity investment in accordance with the guidance within ASC 810 – Consolidation and ASC 323. Pool revenues and expenses within the Luna Pool are accounted for in accordance with ASC 808 – Collaborative Arrangements. We own a 50% share in Dan Unity CO2 A/S (“Dan Unity”). Dan-Unity is a 50/50 joint venture involving one of our subsidiaries, and the joint venture partners, who combine their financial capacities, expertise in, and experience with designing and potentially constructing specialized CO2 gas carriers and would handle all activities of seaborne CO2 transportation. Dan Unity is accounted for as an investment using the equity method in accordance with the guidance within ASC 810 – Consolidation, and ASC 323 – Equity Method and Joint Ventures. We own a 33.3% share in Unigas International B.V. (“Unigas B.V”). Unigas B.V operates the Unigas Pool which was founded in 1969, with three pool members, Schulte Group, Sloman Neptun and Navigator Gas Denmark Aps (‘Pool members’) and where each contribute vessels to operate within the Unigas Pool. The Unigas pool is not a legal entity and operations are governed by an agreement between the Pool members. Vessel earnings are pooled and then distributed to the Pool members, using a formula according to the Unigas Pool agreement. The Company’s investment in Unigas B.V is accounted for as an investment using the equity method in accordance with the guidance within ASC 810 – Consolidation, and ASC 323 – Equity Method and Joint Ventures, whereas revenues and expenses within the Unigas Pool are accounted for in accordance with ASC 842 – Leases. In connection with the preparation of the Company’s consolidated financial statements for the year ended December 31, 2023, an error was identified in relation to the classification of cash received from the non-controlling interest in the Navigator Greater Bay Joint Venture in our statement of cash flows presented in our consolidated financial statements for the year ended December 31, 2022. The correction of this matter resulted in a decrease in cash flows from investing activities of $5.9 million and an increase in cash flows from financing activities of $5.9 million for the year ended December 31, 2022. This revision had no impact on the consolidated balance sheet or statements of operations, comprehensive income/(loss) and stockholders’ equity. The Company has evaluated these amounts and has concluded that while they are immaterial to the consolidated financial statements for the year ended December 31, 2022, they should be corrected by revising the previously reported financial information presented for comparative purposes in this Annual Report on Form 20-F. Collaborative Arrangements The Pool Participants manage and participate in the activities of the Luna Pool through an executive committee comprising equal membership from both Pool Participants. Certain decisions made by the executive committee as to the operations of the Luna Pool require the unanimous agreement of both participants with others requiring a majority of votes. The Company’s wholly owned subsidiary, NGT Services (U.K.) Limited acts as commercial manager (“Commercial Manager”) to the Luna Pool. The Collaborative arrangement ended following the acquisition by us of the final vessel, Navigator Vega, on April 13, 2023. Under the pool agreement, the Commercial Manager is responsible, as an agent, for the marketing and chartering of the participating vessels, collection of revenues and paying voyage costs such as port call expenses, bunkers and brokers’ commissions in relation to charter contracts, but the vessel owners continue to be fully responsible for the financing, insurance, crewing and technical management of their respective vessels. The Commercial Manager receives a fee based on the net revenues of the Luna Pool, which is levied on the Pool Participants, which after the elimination of inter group income, was $0.1 million for the year ended December 31, 2023 (December 31, 2022 and 2021: $0.4 million). Pool revenues and expenses within the Luna Pool are accounted for in accordance with ASC 808 – Collaborative Arrangements; Pool earnings (gross earnings of the pool less costs and overheads of the Luna Pool and fees to the Commercial Manager) are aggregated and then allocated to the Pool Participants in accordance with an apportionment for each participant’s vessels multiplied by the number of days each of their vessels are on hire in the pool during the relevant period and therefore the Company is exposed to risks and rewards dependent on the commercial success of the Luna Pool. We have concluded that the Company is an active participant due to its representation on the executive committee and the participation of the Commercial Manager, as is the other Pool Participant. We have presented our share of net income earned under the Luna Pool collaborative arrangement across a number of lines in our consolidated statements of operations. For revenues and expenses earned/incurred specifically by the Company’s vessels and for which we are deemed to be the principal, these are presented gross on the face of our consolidated statements of operations within operating revenues, voyage expenses and brokerage commissions. Our share of pool net revenues generated by the other Pool Participant’s vessels in the Luna Pool collaborative arrangement is presented on the face of our consolidated statements of operations within operating revenues – Luna Pool collaborative arrangements. The other Pool Participant’s share of pool net revenues generated by our vessels in the pool is presented on the face of our consolidated statements of operations within voyage expenses – Luna Pool collaborative arrangements. The portion of the Commercial Manager’s fee which is due from the other Pool Participant is presented on the face of our consolidated statements of operations as other income. (b) Vessels Vessels are stated at cost, which includes the cost of construction, capitalized interest and other direct costs attributable to construction. The cost of the vessels (excluding the estimated initial drydocking cost) less their estimated residual value is depreciated on a straight-line basis over the vessel’s estimated useful life. With effect from January 1, 2022, the estimated useful life of the Company’s vessels changed from 30 years to 25 years, from the date of its original construction. (c) Vessels Held for Sale Assets are classified as held for sale when the Company commits to a plan to sell the asset, the sale is probable within one year, and the asset is available for immediate sale in its present condition. Consideration is given to whether the asset is currently being marketed for sale at a price that is reasonable in relation to its current fair value, and whether actions required to complete the plan indicate that it is unlikely that significant changes to the intention to sell will be made or that the intention to sell will be withdrawn. When assets are classified as held for sale, they are measured at the lower of their carrying amount or fair value less cost to sell and they are tested for impairment. A loss is recognized when the carrying value of the asset exceeds the estimated fair value, less transaction costs. Assets classified as held for sale are no longer depreciated. (d) Valuation of Vessels Our vessels and capitalized drydocking costs are reviewed for impairment when events or circumstances indicate the carrying amount of the vessel and capitalized drydocking costs may not be recoverable. When such indicators are present, a vessel and the capitalized drydocking costs are tested for recoverability, by comparing the future cash flows (undiscounted and excluding interest charges that will be recognized as an expense when incurred) expected to be generated by the vessel and the capitalized drydocking costs over their estimated remaining useful life to its carrying value. If we determine that a vessel’s undiscounted cash flows are less than its carrying value, we record an impairment loss equal to the amount by which its carrying amount exceeds its fair value. Fair value is determined using a discounted cashflow model. The new lower cost basis would result in lower annual depreciation than before the impairment. At December 31, 2023, the estimated useful lives of the vessels were unchanged at 25 years, and none of the vessels showed indications of impairment. Amongst other things, judgements regarding the impact of recent geopolitical and macroeconomic events, including the war in Ukraine and the conflict in the Gaza region, rates of inflation and interest, industry trends, and climate change initiatives which may impact economic useful life assumptions,were considered when determining whether indicators of impairment were present. This determination also involved the use of judgements and assumptions regarding expected future utilization rates. When impairment indicators are present, the estimates and assumptions regarding expected cash flows require considerable judgment and are based upon historical experience, financial forecasts and industry trends and conditions and reflect management’s assumptions and judgements. Future cash flow assumptions also require estimates regarding the remaining useful lives of the vessels and capitalized drydocking costs. When discounted cash flows are required, assumptions are made regarding the discount rate applied to the estimated future cash flows. (e) Impairment of Equity Method Investments Equity method investments are reviewed for indicators of impairment when events or circumstances indicate the carrying amount of the investment may not be recoverable. When such indicators are present, we determine if the indicators are ‘other than temporary’ to determine if an impairment exists. If we determine that an impairment exists, a discounted cash flow analysis is carried out based on the future cash flows expected to be generated over the investment’s estimated remaining useful life. The resulting net present value is compared to the carrying value and we would recognize an impairment loss equal to the amount by which the carrying amount exceeds its fair value. (f) Drydocking Costs Depending on the age of each vessel, it is required to be dry-docked approximately every two and a half year or five years for classification society surveys and inspections of, among other things, the underwater parts of the vessel. These works include, but are not limited to hull coatings, seawater valves, steelworks and piping works, propeller servicing and anchor chain winch calibrations, all of which cannot be performed while the vessels are operating. The Company capitalizes costs associated with the dry-dockings in accordance with ASC 360 – Property, Plant and Equipment, and depreciates these costs on a straight-line basis over the period to the next expected dry-docking. Depreciation of dry-docking costs is included in depreciation in the Consolidated Statements of Operations. Costs incurred during the dry-docking period which relate to routine repairs and maintenance are expensed. Where a vessel is newly acquired, or constructed, a proportion of the cost of the vessel is allocated to the components expected to be replaced at the next drydocking based on the expected costs relating to the next drydocking, which is based on experience and past history of similar vessels. Drydocking costs are included within operating activities on the cashflow statement. (g) Intangible Assets Intangible assets consist of software acquisition and associated costs of software modification to meet the Company’s internal needs. Intangible assets are amortized on a straight-line basis over the expected life of the software license, product or the expected duration that the software is estimated to contribute to the cash flows of the Company, estimated to be five years. Amortization of intangible assets is included in depreciation and amortization in the Consolidated Statements of Operations. Intangible assets are assessed for impairment when and if impairment indicators exist. An impairment loss is recognized if the carrying amount of an intangible asset is not recoverable and exceeds its fair value. No impairment has been recognized for the years ending December 31, 2023, 2022 or 2021. (h) Cash, Cash Equivalents and Restricted Cash The Company considers highly liquid investments, such as time deposits and certificates of deposit, with an original maturity of three months or less when purchased, to be cash equivalents. As of December 31, 2023, and 2022 and for the years then ended, the Company had balances in U.S. financial institutions in excess of the amounts insured by the Federal Deposit Insurance Corporation (“FDIC”). The Company also maintains cash balances in foreign financial institutions outside of the U.S. which are not covered by the FDIC. Amounts included in restricted cash represent cash in blocked deposit accounts that is required to be deposited in accordance with the terms of the secured term loans with a banking institution. As of December 31, 2023, there was $8.6 million held in blocked deposit accounts and thereby restricted from use for the duration of the outstanding associated secured term loans (December 31, 2022: $6.5 million). (i) Accounts Receivable, Net The Company carries its accounts receivable at cost less an allowance for expected credit losses. As of December 31, 2023 and December 31, 2022, the Company evaluated its accounts receivable and established an allowance for expected credit losses, based on a history of past write-offs, collections and current credit conditions. The Company also considers future and reasonable and supportable forecasts of future economic conditions in its allowance for expected credit losses. The Company does not generally charge interest on past-due accounts (unless the accounts are subject to legal action), and accounts are written off as uncollectible when all reasonable collection efforts have failed. Accounts are deemed past-due based on contractual terms. (j) Bunkers and Lubricant Oils Bunkers and lubricant oils include bunkers (fuel), for those vessels under voyage charters. Under a time charter, the cost of bunkers is borne by and remains the property of the charterer. Bunkers and lubricant oils are accounted for on a first-in, first-out (“FIFO”) basis and are valued at cost. (k) Deferred Finance Costs Costs incurred in connection with obtaining secured term loan facilities, revolving credit facilities and bonds are recorded as deferred financing costs and are amortized to interest expense over the estimated duration of the related debt. Such costs include fees paid to the lenders or on the lenders’ behalf and associated legal and other professional fees. Under the Accounting Standards Update (ASU) 2015- 03, Interest—Imputation of Interest the Company has adopted the accounting standard (Subtopic 835-30)—simplifying the presentation of debt issuance cost to present the unamortized debt issuance costs, excluding upfront commitment fees, as a direct reduction of the carrying value of the debt. Deferred financing costs related to undrawn debt are presented as assets on our consolidated balance sheet and amortized using the straight-line method. Following a loan refinancing assessed as a modification, any unamortized issuance costs related to the refinanced facility will continue to be amortized over the new term of the loan using the effective interest rate method. (l) Deferred Income Deferred income is the balance of cash received in excess of revenue earned under voyage charter arrangements as of the balance sheet date. Deferred income also includes the unearned portion of time charter revenue invoices for which consideration has not been received as at the balance sheet date, but for which there is an unconditional right to receive such consideration before the performance obligation is satisfied. (m) Accruals and Other Liabilities Accrued expenses and other liabilities include all accrued liabilities relating to the operations of our vessels as well as any amounts accrued for general and administrative costs. (n) Revenue Recognition The Company receives its revenue streams from three different sources; voyage or ‘spot’ charters, contracts of affreightment (“COA”), and time charters. Voyage charter and COA arrangements In the case of vessels contracted under voyage charters, the vessel is contracted for a voyage, or a series of voyages, between two or more ports and the Company is paid for the cargo transported. Revenue from COAs is recognized on the same basis as revenue from voyage charters, as they are essentially a series of consecutive voyage charters. Payment from voyage charters and COAs is due upon discharge of the cargo at the discharge port. We recognize revenue on a load port-to discharge port basis and determine percentage of completion for all voyage charters and COAs on a time elapsed basis. The Company believes that the performance obligation towards the customer starts to become satisfied once the cargo is loaded and the obligation becomes completely satisfied once the cargo has been discharged at the discharge port. Under this revenue recognition standard, the Company has identified certain costs incurred to fulfill a contract with a charterer, which are costs incurred following the commencement of a contract or charter party but before the loading of the cargo commences. These directly related costs are generally fuel or any canal or port costs incurred to get the vessel from its position at the inception of the contract to the load port to commence loading of the cargo. These costs are deferred and amortized over the duration of the performance obligation on a time basis. Voyage charters and COAs typically have an expected duration of one year or less. Time charter arrangements For vessels contracted under time charters, the arrangements are for a specified period of time. The Company receives a fixed charter rate per on-hire day which is payable monthly in advance and revenue is recognized ratably over the term of the charter. Within our time charter arrangements, key decisions concerning the use of the vessel during the duration of the time charter period reside with the charterer. We are responsible for the crewing, maintenance and insurance of the vessel, and the charterer is generally responsible for voyage specific costs, which typically include bunkers and port/canal costs. As the charterer holds rights to determine how and when the vessel is used and is also responsible for voyage specific costs incurred during the voyage, the charterer derives the economic benefits from the use of the vessel, as control over the use of the vessel is transferred to the charterer during the specified time charter period. Time charters are therefore considered operating leases and we apply the lease income recognition guidance in ASC 842 – Leases following the adoption of that standard. In addition, the Company has performed a qualitative analysis of each of its time charter contracts and concluded that the lease component is the predominant component as the charterer would attribute most value to the ability to direct the use of the vessel rather than to the technical and crewing services to operate the vessel which are add-on services. Accordingly, revenue from vessels under time charter arrangements is presented as a single lease component. (o) Other Comprehensive Income/(Loss) The Company follows the provisions of ASC 220 – Comprehensive Income, which requires separate presentation of certain transactions, which are recorded directly as components of stockholders’ equity. Comprehensive income is comprised of net income/(loss) and foreign currency translation gains and losses. (p) Voyage Expenses and Vessel Operating Expenses When the Company employs its vessels on time charter, it is responsible for the operating expenses of the vessels, such as crew costs, stores, insurance, repairs and maintenance while the customer is responsible for substantially all of the voyage expenses. In the case of voyage charters, the vessel is contracted only for a voyage between two or more ports, and the Company pays for all voyage expenses in addition to the vessel operating expenses. Voyage expenses consist mainly of in-port expenses, canal fees and bunker (fuel) consumption and are recognized as incurred during the performance obligation (the period of time from load to discharge) of the vessel. The Company has identified certain voyage costs incurred to fulfill a contract with a charterer, which are costs incurred following the commencement of a contract or charter party but before the loading of the cargo commences. These directly related costs are generally fuel or any canal or port costs to get the vessel from its position at inception of the contract to the load port to commence loading of the cargo. These costs are deferred and amortized over the duration of the performance obligation on a time basis. (q) Repairs and Maintenance All expenditures relating to routine maintenance and repairs are expensed when incurred. (r) Insurance The Company maintains hull and machinery insurance, war risk insurance, protection and indemnity insurance, increased value insurance, demurrage and defense insurance in amounts considered prudent to cover normal risks in the ordinary course of its operations. Premiums paid in advance to insurance companies are recognized as prepaid expenses and recorded as a vessel operating expense over the period covered by the insurance contract. In addition, the Company maintains Directors and Officers insurance. When the Company has enforceable insurance in place, a receivable is recognized for an insured event if realization is probable. We apply judgement that an insurance recovery is probable when the insurer has confirmed that a claim is covered by insurance, the claim has been successful, and an amount will be paid to the Company. If the insurance receivable realization is probable, the receivable is measured as the lesser of (a) the recognized loss from the insurance event or (b) the probable recovery from the insurer. Subsequent receipt of the receivable is typically within a twelve month period, and insurance receivables are classified as current on our consolidated balance sheet. If the recoverability of the insurance claim is subject to dispute then there is a rebuttable presumption that realization is not probable. (s) Share-Based Compensation The Company records as an expense in its financial statements the fair value of all equity-settled stock-based compensation awards. The terms and vesting schedules for share-based awards vary by type of grant. Generally, the awards vest subject to time-based (typically one (t) Use of Accounting Estimates We prepare our consolidated financial statements in accordance with U.S. GAAP, which requires us to make estimates in the application of our accounting policies based on our best assumptions, judgments and opinions. On a regular basis, management reviews the accounting policies, assumptions, estimates and judgments to ensure that our consolidated financial statements are presented fairly and in accordance with U.S. GAAP. However, because future events and their effects cannot be determined with certainty, actual results could differ from our assumptions and estimates, and such differences could be material. (u) Foreign Currency Transactions Substantially all of the Company’s cash receipts are in U.S. Dollars. The Company’s disbursements, however, are in the currency invoiced by the supplier. The Company remits funds in the various currencies invoiced. The non-U.S. Dollar invoices received, and their subsequent payments, are converted into U.S. Dollars when the transactions occur. The movement in exchange rates between these two dates is transferred to an exchange difference account and is expensed each month. The exchange risk resulting from these transactions is not considered to be material. (v) Derivative Instruments Derivative instruments are initially recorded at fair value as either assets or liabilities in the accompanying balance sheet and subsequently remeasured to fair value at each reporting date, regardless of the purpose or intent for holding the derivative. The resulting derivative assets or liabilities are shown as a single line and are not netted off against one another on the face of the balance sheet. The method of recognizing the resulting gain or loss is dependent on whether the derivative contract qualifies for hedge accounting and has been designated as a hedging instrument. For derivative instruments that are not designated or that do not qualify as hedging instruments under ASC 815 – Derivatives and Hedging, the asset or liability is recognized as ‘Derivative assets’ or ‘Derivative liabilities’ on the balance sheet and changes in the fair value of the derivative financial instruments are recognized in earnings. Gains and losses from the Company’s non-designated interest rate swap agreements are recorded in unrealized (losses)/gains on non-designated derivative instruments in the Company’s consolidated statement of operations but do not impact our cash flows. (w) Income Taxes Current taxation Navigator Holdings Ltd. and its Marshall Islands subsidiaries are currently not required to pay income taxes in the Marshall Islands on ordinary income or capital gains as they qualify as exempt companies. The Company has four wholly owned subsidiaries incorporated in the United Kingdom where the base tax rate is currently 25%. These subsidiaries provide services to affiliated entities within the group. The Company has a subsidiary in Poland where the base tax rate is currently 19%. The subsidiary earns management fees from fellow subsidiary companies. The Company has a subsidiary incorporated in Singapore where the base tax rate is currently 17%. The subsidiary earns management and other fees and receives interest from a VIE, PT Navigator Khatulistiwa. The VIE is subject to Indonesian freight tax on all of its gross shipping transportation revenue at a rate of 1.2%. The Company has a subsidiary in the United States of America where the base tax rate is currently 21%. The subsidiary owns a 50% interest in the Export Terminal Joint Venture, a pass through entity for U.S. tax purposes with the subsidiary liable for its share of the profits of the Ethylene Export Terminal. The Company has consolidated a VIE incorporated in Malta where the base tax rate is currently 35%. This VIE is the lessor entity for the sale and leaseback of Navigator Aurora and pay interest, management and other fees to its parent entity, Ocean Yield Malta (please read "Note 8. Variable Interest Entities to the consolidated financial statements)." The Company considered the income tax disclosure requirements of ASC 740 – Income Taxes, with regard to disclosing material unrecognized tax benefits; none were identified. The Company’s policy is to recognize accrued interest and penalties for unrecognized tax benefits as a component of tax expense. As of December 31, 2023, and 2022, there were no accrued interest and penalties for unrecognized tax benefits. Deferred taxation Deferred income tax assets and liabilities are recognized for the future tax consequences attributed to differences between the financial statements and tax basis of existing assets and liabilities using enacted rates applicable to the periods in which the differences are expected to affect taxable income. Deferred income tax balances included on the consolidated balance sheet reflect the effects of temporary differences between the carrying amounts of assets and liabilities and their tax basis and are stated at enacted tax rates expected to be in effect when taxes are actually paid or recovered. Deferred income tax assets represent amounts available to reduce income taxes payable on taxable income in future years. The recoverability of these future tax deductions is evaluated by assessing the adequacy of future taxable income, including the reversal of temporary differences and forecasted operating earnings. If it is deemed more likely than not that the deferred tax assets will not be realized, the Company provides for a valuation allowance. (x) Earnings Per Share Basic earnings per common share (“Basic EPS”) is computed by dividing the net income/(loss) available to common stockholders by the weighted average number of shares outstanding in any period. Diluted earnings per common share (“Diluted EPS”) is computed by dividing the net income available to common stockholders by the weighted average number of common shares and dilutive common share equivalents then outstanding in any period. Share options granted pursuant to the 2013 Restricted Stock Plan are the only dilutive shares, and these shares have been considered as outstanding since their respective grant dates for the purposes of computing diluted earnings per share. These shares were antidilutive in the year ended December 31, 2021 and thus not included in the calculation of diluted EPS in 2021. (y) Related parties Pa

Derivative Instruments Accounte

Derivative Instruments Accounted for at Fair Value	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments Accounted for at Fair Value	3. Derivative Instruments Accounted for at Fair Value The Company uses derivative instruments in accordance with its overall risk management policy to mitigate our risk of unfavorable fluctuations in foreign exchange and interest rate movements. The Company held no derivatives designated as hedges as of December 31, 2023, and 2022. Fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or a liability. The fair value accounting standard establishes a three-tier fair value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: Level 1—Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2—Include other inputs that are directly or indirectly observable in the marketplace. Level 3—Unobservable inputs which are supported by little or no market activity. Interest Rate risk In July 2020, the Company entered into floating-to-fixed interest rate swap agreements with ING Capital Markets LLC (“ING”) and Societe Generale (“SocGen”) with a termination date of December 31, 2025, to run concurrently with the Terminal Facility. Under these agreements, the notional amounts of the swaps are 80% of the amounts drawn under the Terminal Facility. The interest rate receivable by the Company under these interest rate swap agreements is 3-month SOFR, calculated on a 360-day year basis, which resets every three months in line with the dates of interest payments on the Terminal Facility. The interest rate payable by the Company under these interest rate swap agreements is 0.369% and 0.3615% per annum to ING and SocGen respectively. The Company also has a number of existing vessel loan facilities with associated fixed interest rate swaps. These fixed interest rate swaps are entered into with the financial institutions which were lenders on the loan facilities, being: Banco Santander Chile SA and Deutsche Bank AG London. The fixed interest rate swaps cover 70% and 30% respectively of the notional value of the outstanding loan amounts in each tranche. The interest rate receivable by the Company under these interest rate swap agreements is SOFR, calculated on a 360-day year basis, which resets every three All interest rate swaps above are remeasured to fair value at each reporting date and have been categorized as level two on the fair value measurement hierarchy. The remeasurement to fair value has no impact on the cash flows at the reporting date. There is no requirement for cash collateral to be placed with the swap providers under these swap agreements and there is no effect on restricted cash as of December 31, 2023 and December 31, 2022. The fair value of these non-designated derivative instruments is presented as a non-current asset in the Company’s consolidated balance sheet and the change in fair value is presented in the consolidated statement of operations. As of December 31, 2023, the interest rate swaps had a fair value asset of $14.7 million (December 31, 2022, a fair value asset of $22.0 million) and resulted in unrealized loss of $7.3 million (December 31, 2022, an unrealized gain of $25.1 million and December 31, 2021, an unrealized gain of $0.8 million) on the combined fair value of the swaps for the year ended December 31, 2023. Foreign Currency Exchange Rate risk All foreign currency-denominated monetary assets and liabilities are revalued and are reported in the Company’s functional currency based on the prevailing exchange rate at the end of the period. These foreign currency transactions fluctuate based on the strength of the U.S. Dollar. The remeasurement of all foreign currency-denominated monetary assets and liabilities at each reporting date results in unrealized foreign currency exchange differences but do not impact our cash flows. The fair value of any non-designated derivative instrument is presented in the Company’s consolidated balance sheet and the change in fair value during the year is presented in the consolidated statement of operations. Credit risk The Company is exposed to credit losses in the event of non-performance by the counterparties to the interest rate swap agreements. As of December 31, 2023, the Company is exposed to credit risk as the interest rate swaps were in an asset position from the perspective of the Company. In order to minimize counterparty risk, the Company only enters into derivative transactions with counterparties that are reputable financial institutions, highly rated by a recognized rating agency. The fair value of our interest rate swap agreements is the estimated amount that we would pay / receive to sell or transfer the swap at the reporting date, taking into account current interest rates and the current credit worthiness of the swap counterparties. The estimated amount is the present value of future cash flows, adjusted for credit risk. The Company transacts all of these derivative instruments through investment-grade rated financial institutions at the time of the transaction. The amount recorded as a derivative asset or liability could vary by a material amount in the near term if credit markets are volatile or if credit risk were to change significantly. The fair value of our interest rate swap agreements at the end of each period is most significantly affected by the interest rate implied by the benchmark interest yield curve, including its relative steepness. Interest rates and foreign exchange rates have experienced significant volatility in recent years in both the short and long term. While the fair value of our swap agreements is typically more sensitive to changes in short-term rates, significant changes in long-term benchmark interest, foreign exchange rates and the credit risk of the counterparties or the Company also materially impact the fair values of our swap agreements. The following table includes the estimated fair value of those assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2023, and 2022. December 31, 2022 December 31, 2023 Fair Value Hierarchy Fair Value Hierarchy Level Fair Value Asset Fair Value Asset (in thousands) Interest rate swap agreements assets Level 2 $ 21,955 $ 14,674

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	4. Fair Value of Financial Instruments The principal financial assets of the Company as of December 31, 2023, and 2022 consist of cash, cash equivalents and restricted cash and accounts receivable. The principal financial liabilities of the Company as of December 31, 2023 and 2022 consist of accounts payable, accrued expenses and other liabilities, secured term loan facilities, revolving credit facilities and the 2020 Bonds. The carrying values of cash, cash equivalents and restricted cash, accounts receivable, accounts payable, accrued expenses and other liabilities are reasonable estimates of their fair value due to the short-term nature or liquidity of these financial instruments. Fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or a liability. The fair value accounting standard establishes a three tier fair value hierarchy the (Level 1, Level 2 and Level 3) fair value hierarchy described in 3. Derivative Instruments Accounted for at Fair Value, which prioritizes the inputs used in the valuation methodologies in measuring fair value: Level 1—Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2—Include other inputs that are directly or indirectly observable in the marketplace. Level 3—Unobservable inputs which are supported by little or no market activity. The 2020 Bonds are classified as a level two liability and the fair values have been calculated based on the most recent trades of the bond on the Oslo Børs prior to December 31, 2023. These trades are infrequent and therefore not considered to be an active market. The fair value of secured term loan facilities and revolving credit facilities is estimated to approximate the carrying value in the balance sheet since they bear a variable interest rate, which is reset every quarter. This has been categorized at level two on the fair value measurement hierarchy as at December 31, 2023 and 2022. The following table includes the estimated fair value and carrying value of those assets and liabilities where the fair value does not approximate the carrying value. The table excludes cash, cash equivalents, and restricted cash, accounts receivable, accounts payable, accrued expenses, and other liabilities because the fair value approximates carrying value and, for accounts receivable and payable, are due in one year or less. December 31, 2022 December 31, 2023 Fair Value Hierarchy Level Fair Value Carrying Fair Value Carrying Fair Value (in thousands) 2020 Bonds ( see Note 10) Level 2 $ (100,000) $ (99,000) $ (91,000) $ (91,455) Secured term loan facilities and revolving credit facilities (see Note 9) Level 2 $ (762,047) $ (762,047) $ (810,497) $ (810,497)

Operating Revenues

Operating Revenues	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Operating Revenues	5. Operating Revenues The following table compares our operating revenues by the source of revenue stream for the years ended December 31, 2023, 2022 and 2021 : Year ended December 31, 2021 2022 2023 (in thousands) Operating revenues: Time charters $ 190,420 $ 245,645 $ 317,010 Voyage charters 162,502 159,701 176,329 Time charters from Luna Pool collaborative arrangements 1,283 — — Voyage charters from Luna Pool collaborative arrangements 25,272 22,101 7,355 Operating revenues from Unigas Pool 27,004 46,345 50,043 Total operating revenues $ 406,481 $ 473,792 $ 550,737 Time Charter revenues As of December 31, 2023, 38 of the Company’s 47 operated vessels, (excluding the nine vessels operating within the independently managed Unigas Pool) were subject to time charters, 27 of which will expire within one year, five of which will expire within three years, and six of which will expire between three to five years from the balance sheet date. (December 31, 2022: 34 of the Company’s 44 operated vessels, were subject to time charters, 25 of which were due to expire within one year, five within three years, and four between three to five years). The estimated undiscounted cash flows for committed time charter revenue expected to be received on an annual basis for ongoing time charters, as of each December 31, is as follows: (in thousands) 2024 $ 257,796 2025 $ 87,121 2026 $ 35,963 2027 $ 5,347 For time charter revenues accounted for under Topic 842, the amount of accrued income on the Company’s consolidated balance sheet as of December 31, 2023 was $1.0 million (December 31, 2022: $3.9 million). The amount of hire payments received in advance under time charter contracts, recognized as a liability and reflected within deferred income on the Company’s consolidated balance sheet was $25.6 million (December 31, 2022: $23.0 million). Deferred income allocated to time charters will be recognized ratably over time, which is expected to be within one month from December 31, 2023. Voyage Charter revenues Voyage charter revenues, which include revenues from contracts of affreightment, are shown net of address commissions. As of December 31, 2023, for voyage charters and contracts of affreightment, services accounted for under Topic 606, the amount of contract assets reflected within accrued income on the Company’s consolidated balance sheet was $1.3 million (December 31, 2022: $8.6 million). Changes in the contract asset balance at the balance sheet dates reflect income accrued after loading of the cargo commences but before an invoice has been raised to the charterer, as well as changes in the number of the Company’s vessels contracted under voyage charters or contracts of affreightment. The amount of contract liabilities reflected within deferred income on the Company’s consolidated balance sheet was $nil (December 31, 2022: $nil). The opening and closing balance of receivables from voyage charters and contracts of affreightment was $5.1 million and $18.3 million respectively as of December 31, 2023 (December 31, 2022: $11.1 million and $5.1 million respectively) and are reflected within net accounts receivable on our consolidated balance sheet. The amount allocated to costs incurred to fulfill a contract with a charterer, which are costs incurred following the commencement of a contract or charter party but before the loading of the cargo commences was $1.0 million as of December 31, 2023 (December 31, 2022: $2.8 million) and is reflected within prepaid expenses and other current assets on the Company’s consolidated balance sheet. Voyage and Time charter revenues from Luna Pool collaborative arrangements:

Vessels

Vessels	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Vessels	6. Vessels Vessel Drydocking Total (in thousands) Cost January 1, 2022 $ 2,305,857 $ 55,578 $ 2,361,435 Vessel additions on acquisition 46,458 16,874 63,332 Disposals (25,838) (920) (26,758) Write-offs of fully amortized assets — (9,497) (9,497) December 31, 2022 2,326,477 62,035 2,388,512 Additions to vessels and equipment’s 191,727 — 191,727 Additions 233 14,718 14,951 Write-offs of fully amortized assets — (4,066) (4,066) Disposals (51,041) (2,749) (53,790) December 31, 2023 2,467,396 69,938 2,537,334 Accumulated Depreciation January 1, 2022 580,357 17,826 598,183 Charge for the period 107,905 18,041 125,946 Disposals (17,767) (847) (18,614) Write-offs of fully amortized assets — (9,497) (9,497) December 31, 2022 670,495 25,523 696,018 Charge for the period 110,424 18,601 129,025 Disposals (37,585) (440) (38,025) Write-offs of fully amortized assets — (4,066) (4,066) December 31, 2023 743,334 39,618 782,952 Net Book Value December 31, 2021 $ 1,725,500 $ 37,752 $ 1,763,252 December 31, 2022 $ 1,655,982 $ 36,512 $ 1,692,494 December 31, 2023 $ 1,724,062 $ 30,320 $ 1,754,382 The cost and net book value of the 38 vessels that were contracted under time charter agreements was $1,974.4 million and $1,323.8 million, respectively, as of December 31, 2023 (December 31, 2022: $1,776.0 million and $1,236.0 million, respectively, for 34 vessels contracted under time charters). The net book value of vessels that serve as collateral for the Company’s secured term loan and revolving credit facilities (see "Note 9. Secured Term Loan Facilities and Revolving Credit Facilities " to the consolidated financial statements) was $1,385.5 million as of December 31, 2023 (December 31, 2022: $1,420.9 million). The cost and net book value of vessels that are included in the table above and are subject to other financing arrangements (see "Note 8. Variable Interest Entities " to the consolidated financial statements) was $83.6 million and $62.6 million, respectively, as of December 31, 2023. (December 31, 2022: $83.6 million and $66.1 million, respectively). The Navigator Greater Bay Joint Venture acquired one 17,000 cbm 2018-built ethylene-capable liquefied gas carrier and three 22,000 cbm 2019-built ethylene-capable liquefied gas carriers during the year ended December 31, 2023 for an aggregate consideration of $191.7 million. These were financed by a $123.5 million drawdown on a secured term loan, a $27.3 million equity contribution from Greater Bay Gas and $40.9 million from the Company's cash on hand. On May 2, 2023, the Company sold its vessel, Navigator Orion , a 2000-built 22,085 cbm ethylene-capable semi-refrigerated handysize carrier to a third party for $20.7 million, before broker commission.

Equity Method Investments

Equity Method Investments	12 Months Ended
	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	7. Equity Method Investments Interests in investments that are accounted for using the equity method, are recognized initially at cost and subsequently include the Company’s share of the profits or losses and other comprehensive income of equity-accounted investees. As of December 31, 2023, and 2022, we had the following participation in investments that are accounted for using the equity method: December 31, 2022 December 31, 2023 Enterprise Navigator Ethylene Terminal L.L.C. (“Export Terminal Joint Venture”) 50 % 50 % Unigas International B.V. (“Unigas”) 33.3 % 33.3 % Dan Unity CO2 A/S ('Dan Unity') 50 % 50 % Luna Pool Agency Limited (“Pool Agency”) 50 % 50 % Azane Fuel Solutions AS ("Azane") — 14.5 % Bluestreak CO2 Limited ("Bluestreak") — 50 % Equity method gains, including amortized costs, recognized in the share of result of equity method investments for the year ended December 31, 2023 were $20.6 million (December 31, 2022 and 2021: equity method gains of $25.8 million and $11.1 million, respectively). Export Terminal Joint Venture To December 31, 2023 the has Company contributed $181.5 million to the Export Terminal Joint Venture, being our total share of the capital cost for the construction of the Ethylene Export Terminal and the Terminal Expansion Project. Cumulative interest and associated costs capitalized on the investment in the Export Terminal Joint Venture are amortized over the estimated useful life of the Ethylene Export Terminal, which originally began commercial operations in December 2019 and which Terminal Expansion Project is due to commence in January 2025. As of December 31, 2023, the unamortized difference between the carrying amount of the investment in the Export Terminal Joint Venture and the amount of the Company’s underlying equity in net assets of the Export Terminal Joint Venture was $5.2 million (December 31, 2022: $5.8 million). The costs amortized in the year ended December 31, 2023 were $0.3 million and are presented in the share of result of equity method investments within our consolidated statement of operations. (December 31, 2022, and 2021: $0.3 million and $0.3 million, respectively). Luna Pool Agency Limited In March 2020, the Company collaborated with Pacific Gas Pte. Ltd. and Greater Bay Gas to form and manage the Luna Pool as Pool Participants. As part of the formation, Luna Pool Agency Limited, (the “Pool Agency”), was incorporated in May 2020. The Pool Participants jointly own the Pool Agency on an equal basis, and both have equal board representation. As of December 31, 2023 and 2022, we have recognized the Company’s initial investment of one British pound in the Pool Agency within equity method investments on our consolidated balance sheet. The Pool Agency has no activities other than that as a legal custodian of the Luna Pool bank account and there will be no variability in its financial results as it has no income and its minimal operating expenses are reimbursed by the Pool Participants. Unigas International B.V. ("Unigas B.V.") Unigas B.V based in the Netherlands is an independent commercial and operational manager of seagoing vessels capable of carrying liquefied petrochemical and petroleum gases on a worldwide basis. Unigas B.V. is the operator of the Unigas pool. The Company owns a 33.3% equity interest in Unigas B.V. and accounts for it using the equity method. It was recognized initially at fair value and subsequent to initial recognition, the consolidated financial statements will include the Company’s share of the profit or loss and other comprehensive income. Dan Unity CO2 A/S ("Dan Unity") In June 2021, one of the Company’s subsidiaries entered into a shareholder agreement creating an equally owned joint venture, Dan Unity CO2 A/S, a Danish entity, with the aim of undertaking commercial and technical projects relating to seaborne transportation of CO2. We account for our investment using the equity method as our ownership interest is 50% and we exercise joint control over the Dan Unity CO2 A/S operating and financial policies. As of December 31, 2023, we have recognized the Company’s initial investment at cost along with the Company’s share of the profits or losses and other comprehensive income of equity accounted investees. We disclose our proportionate share of profits and losses from equity method unconsolidated affiliates in the statement of operations and adjust the carrying amount of our equity method investments on the balance sheet accordingly. Azane Fuel Solutions AS ("Azane") Azane, a joint venture between ECONNECT Energy AS and Amon Maritime AS , both of Norway, was founded in Norway in 2020 as a company that develops proprietary technology and services for ammonia fuel handling, to facilitate the transition to green fuels for shipping. The Company acquired a 14.5% equity interest in Azane on October 25, 2023 and accounts for it using the equity method. It was recognized initially at cost. Subject to customary conditions, Azane intends to build the world’s first ammonia bunkering network, with Yara Clean Ammonia ("Yara") already pre-ordering 15 units from Azane. The first green ammonia bunkering units are scheduled to be delivered in 2025 enabling a low carbon fuel offering to shipowners. The investment made by Yara and Navigator is expected to enable Azane to begin construction of its first bunkering unit for ammonia supply in Norway, aiming to kickstart the transition to zero-carbon fuels for maritime transportation. Future value creation for Azane is expected to come through international expansion with its bunkering solutions and broadening of its offerings in ammonia fuel handling technology. Bluestreak CO2 Limited ("Bluestreak") Bluestreak is a 50% joint venture between the Company and Bumi Armada, one of the world’s largest floating infrastructure operators. The joint venture aims to provide an end-to-end solution for carbon emitters to capture, transport, sequester and store their carbon dioxide emissions in line initially with the United Kingdom’s Industrial Decarbonisation Strategy. It is anticipated that the Bluestreak joint venture will design and implement a value chain of shuttle tankers delivering to a floating carbon storage and injection unit. The complete value chain is expected to safely and reliably transport and provide buffer storage of liquid carbon dioxide. The Bluestreak joint venture is subject to the execution of definitive documentation, approvals by the respective boards of directors of the Company and Bumi Armada, applicable regularly approvals and other customary closing conditions. We disclose our proportionate share of profits and losses from equity method unconsolidated affiliates in the statement of operations and adjust the carrying amount of our equity method investments on the balance sheet accordingly. The table below represents movement in the Company’s equity method investments, as of December 31, 2023, 2022 and 2021: 2021 2022 2023 (in thousands) Equity method investments at January 1 $ 148,665 $ 150,209 $ 148,534 Equity contributions to joint venture entity 4,000 — 35,000 Equity method investments – additions 2,580 — 1,559 Share of results 11,147 25,794 20,607 Distributions received from equity method investments (16,183) (27,469) (30,790) Total equity method investments at December 31 $ 150,209 $ 148,534 $ 174,910 Summarized financial information for these equity method investees is included below; among the equity method investees are the Export Terminal Joint Venture, the Luna Pool Agency, Unigas B.V., Bluestreak, Dan Unity and Azane. No changes occurred to the ownership in each of the equity method investees during the year ended December 31, 2023. For investments acquired during the reported periods, amounts reflect 100% of the investees' results beginning on the date of our acquisition of the investment. The Export Terminal Joint Venture contributed $20.1 million for the year ended December 31, 2023, which represents majority of our share of results of equity method investments (December 31, 2022 and 2021: equity method gains of $25.8 million and $11.1 million, respectively). The summarized balance sheet data of the operating entity investments consists of the following: December 31, 2022 December 31, 2023 (in thousands) Current assets $ 33,834 $ 55,731 Non-current assets 264,507 304,646 Total Assets $ 298,341 $ 360,377 Current liabilities 13,246 25,793 Non-current liabilities 32 296 Total Liabilities $ 13,278 $ 26,089 Total Equity $ 285,063 $ 334,288 The summarized operating data of the operating entity investments was as follows: Year ended 2021 2022 2023 (in thousands) Total revenues $ 76,271 $ 118,386 $ 107,792 Operating Income 24,250 53,116 $ 41,454 Net income 24,034 53,357 $ 41,607 Net income attributable to the investees $ 11,816 $ 26,472 $ 20,671

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	8. Variable Interest Entities As of December 31, 2023, and December 31, 2022, the Company has consolidated 100% of PT Navigator Khatulistiwa, a VIE for which the Company is deemed to be the primary beneficiary, i.e. it has a controlling financial interest in this entity with the power to direct the activities that most significantly impact the entity’s economic performance and has the right to residual gains or the obligation to absorb losses that could potentially be significant to the VIE. The Company owns 49% of the VIE’s common stock, all of its secured debt and has voting control. All economic interests in the residual net assets reside with the Company. By virtue of the accounting principle of consolidation, transactions between PT Navigator Khatulistiwa and the Company are eliminated on consolidation. PT Navigator Khatulistiwa had total assets and liabilities, as of December 31, 2023, of $130.1 million and $18.3 million, respectively (December 31, 2022: $129.7 million and $19.4 million respectively). In October 2019, the Company entered into a sale and leaseback transaction to refinance one of its vessels, Navigator Aurora, with OCY Aurora Ltd., a Maltese limited liability company. OCY Aurora Ltd. is a wholly owned subsidiary of Ocean Yield Malta Limited, whose parent is Ocean Yield ASA, a listed company on the Oslo stock exchange. The Company does not hold any shares or voting rights in OCY Aurora Ltd. Under U.S. GAAP the entity, OCY Aurora Ltd, is considered to be a VIE. As of December 31, 2023, and 2022, the Company has consolidated 100% of OCY Aurora Ltd., the lessor variable interest entity (‘‘Lessor VIE’’) that we have leased Navigator Aurora from under a sale and leaseback arrangement. The Lessor VIE is a wholly-owned, newly formed special purpose vehicle (“SPV”) of a financial institution. The Company has concluded that it has a variable interest in the SPV because the bareboat charter has fixed price call options to acquire Navigator Aurora from the SPV at various dates throughout the 13 year lease/bareboat charter term, commencing from the fifth year, initially at $44.8 million. The call options are considered to be variable interests as each option effectively transfers substantially all of the rewards from Navigator Aurora to us and limits the SPV’s ability to benefit from the rewards of ownership. The SPV is categorized under U.S. GAAP as a VIE and the Company has concluded it is the primary beneficiary and must therefore consolidate the SPV within its financial statements. The Company has performed an analysis and concluded that the Company exercises power through the exercise of the call options in the lease agreement. The call options, although not an activity of the SPV, if exercised would significantly impact the SPV’s economic performance as the SPV owns no other revenue generating assets. The options transfer to the Company the right to receive benefits as they are agreed at a predetermined price. The SPV is protected from decreases in the value of the vessel, as if the vessel’s market value were to decline, the call option provides the SPV protection up to the point where it would not be economically viable for the Company to exercise the option. In addition, the Company has the power to direct decisions over the activities and care of the vessel which directly impact its value such as for the day-to-day commercial, technical management and operation of the vessel. The Lessor VIE had total assets and liabilities, as of December 31, 2023, of $49.0 million and $42.5 million, respectively. (December 31, 2022: $54.0 million and $49.3 million respectively). The assets and liabilities of the Lessor VIE that most significantly impact the Company’s consolidated balance sheet and the financial statement line items in which they are presented, as of December 31, 2023 and 2022, are as follows: December 31, December 31, 2022 2023 (in thousands) Assets Cash, cash equivalents and restricted cash $ 108 $ 23 Prepaid expenses and other current assets 351 365 Total assets 459 388 Liabilities Accrued expenses and other liabilities (602) (702) Amounts due to related parties, current (544) (569) Amounts due to related parties, non-current (48,140) (41,266) Total liabilities $ (49,286) $ (42,537) The most significant impact of the lessor VIE’s operations on the Company’s consolidated statements of operations is interest expense of $3.2 million for the year ended December 31, 2023 (December 31, 2022: $1.9 million). The most significant impact of the lessor VIE’s cash flows on the Company’s consolidated statements of cash flows is net cash used in financing activities of $6.8 million for the year ended December 31, 2023 (December 31, 2022: net cash used in financing activities of $6.7 million). In August 2021, the Company acquired, as part of the Ultragas Transaction, a 25% and 40% share in equity of Navigator Crewing Services Philippines Inc. (“NCSPI”, “Navigator Gas Crewing”) and Navigator Support Services Philippines Inc. (“NSSPI”), respectively. These companies are established primarily to provide marine services as principal or agent to ship owners, ship operators, managers engaged in international maritime business and business support services, respectively. The Company has determined that it has a variable interest in NCSPI and NSSPI and is considered to be the primary beneficiary as a result of having a controlling financial interest in the entities and has the power to direct the activities that most significantly impact NCSPI’s and NSSPI’s economic performance. As of December 31, 2023, our VIEs' had total assets and liabilities, of $179.8 million and $61.4 million respectively. These amounts have been included in the Company’s consolidated balance sheet as of December 31, 2023 (December 31, 2022:$184.3 million and $68.8 million respectively).

Secured Term Loan Facilities an

Secured Term Loan Facilities and Revolving Credit Facilities	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Secured Term Loan Facilities and Revolving Credit Facilities	9. Secured Term Loan Facilities and Revolving Credit Facilities The table below represents the annual principal payments to be made under our term loans and revolving credit facilities after December 31, 2023 and 2022: December 31, 2022 December 31, 2023 (in thousands) Due within one year $ 212,382 $ 123,024 Due in two years 80,840 292,616 Due in three years 250,432 107,216 Due in four years 65,032 67,539 Due in five years 28,909 93,931 Due in more than five years* 124,452 126,171 Total secured term loans facilities and revolving credit facilities 762,047 810,497 Less: current portion 101,558 123,024 Secured term loan facilities and revolving credit facilities, non-current portion* $ 660,489 $ 687,473 * Includes amounts relating to the Navigator Aurora Facility held within a lessor entity (for which legal ownership resides with financial institutions) that we are required to consolidate under U.S. GAAP into our financial statements as a variable interest entity (See "Note 8. Variable Interest Entities to our consolidated financial statements") Terminal Facility. In March 2019, Navigator Ethylene Terminals LLC, a wholly-owned subsidiary of the Company (the “Marine Terminal Borrower”), entered into a Credit Agreement (the “Terminal Facility”) with ING Capital LLC and SG Americas Securities, LLC for a maximum principal amount of $75.0 million for the payment of project costs relating to our Ethylene Export Terminal. The Terminal Facility has a final maturity of December 31, 2025. Interest on amounts drawn is payable at a rate of Adjusted Daily Compounded SOFR plus 275 to 300 basis points per annum over the term of the facility, for interest periods of three The Terminal Facility is subject to quarterly repayments of between $3.4 million and $3.8 million. The Marine Terminal Borrower must make mandatory prepayments of indebtedness upon specified amounts of excess cash flow, the receipt of performance liquidated damages pursuant to certain material contracts related to the Ethylene Export Terminal, the receipt of proceeds in connection with an event of loss (as defined in the Terminal Facility), the receipt of proceeds in connection with termination payments (as defined in the Terminal Facility), the receipt of proceeds in connection with certain dispositions by the Export Terminal Joint Venture, the incurrence of certain specified indebtedness, the inability to meet the conditions for paying a dividend for four or more consecutive quarters, dispositions of the Marine Terminal Borrower’s equity interests in the Export Terminal Joint Venture, the receipt of indemnity payments in excess of $500,000 and certain amounts of any loans outstanding upon the conversion date. The loans under the Terminal Facility are secured by first priority liens on the rights to the Marine Terminal Borrower’s distributions from the Export Terminal Joint Venture, the Marine Terminal Borrower’s assets and properties, and the equity interests of Navigator Terminal Invest Limited, one of the Company’s subsidiaries, in the Marine Terminal Borrower. Under the Terminal Facility, the Marine Terminal Borrower must maintain a minimum debt service coverage ratio (as defined in the Terminal Facility) for the prior four calendar fiscal quarters of no less than 1.10 to 1.00. The Marine Terminal Borrower can only pay dividends if it satisfies certain customary conditions to paying a dividend, including maintaining a debt service coverage ratio for the immediately preceding four consecutive fiscal quarters and the projected immediately succeeding four consecutive fiscal quarters of not less than 1.20 to 1.00 and no default or event of default has occurred or is continuing. The Terminal Facility also limits the Marine Terminal Borrower from, among other things, incurring indebtedness or entering into mergers and divestitures. The Terminal Facility also contains general covenants that will require the Marine Terminal Borrower to vote its interest in the Export Terminal Joint Venture to cause the Export Terminal Joint Venture to maintain adequate insurance coverage, maintain its property (but only to the extent the Marine Terminal Borrower has the power under the organizational documents of the Marine Terminal Joint Venture to cause such actions). October 2016 Secured Term Loan and Revolving Credit Facility. On October 28, 2016, the Company entered into a secured term loan and revolving credit facility with ABN Amro Bank N.V as agents as well as Nordea Bank AB, London Branch; DVB Bank SE and Skandinaviska Enskilda Banken AB. The facility had a term of seven years from the first utilization date with a maximum principal amount of up to $220.0 million. This secured term loan and revolving credit facility was refinanced and fully repaid on March 28, 2023. June 2017 Secured Term Loan and Revolving Credit Facility. On June 30, 2017, the Company entered into a secured term loan and revolving credit facility with Nordea Bank AB (Publ.), Filial I Norge, BNP Paribas, DVB Bank America N.V., ING Bank N.V. London Branch and Skandinaviska Enskilda Banken AB (Publ.) for a maximum principal amount of $160.8 million (the “June 2017 Secured Term Loan and Revolving Credit Facility”). The facility had $100.0 million as a secured term loan and $60.8 million available in a revolving credit facility with a term of six years from the date of the agreement (expiring in June 2023) with a maximum principal amount of up to $160.8 million. This secured term loan and revolving credit facility was refinanced and fully repaid on March 28, 2023. March 2019 Secured Term Loan Facility . On March 25, 2019, the Company entered into a secured term loan with Credit Agricole Corporate and Investment Bank, ING Bank N.V. London Branch and Skandinaviska Enskilda Banken AB (Publ.) for a maximum principal amount of $107.0 million (the “March 2019 Secured Term Loan Facility”), to partially re-finance our January 2015 secured term loan facility that was due to mature in June 2020. The facility has a term of six years from the date of the agreement, maturing in March 2025. It is fully drawn down and as of December 31, 2023, with an amount outstanding of $63.5 million which is repayable in eight equal quarterly instalments of approximately $2.3 million followed by a final payment of $54.4 million on the final quarterly repayment date on March 25, 2025. Interest on amounts drawn is payable at a rate of Term SOFR plus 266 basis points per annum. This loan facility is secured by first priority mortgages on each of; Navigator Atlas, Navigator Europa, Navigator Oberon , and Navigator Triton as well as assignments of earnings and insurances on these secured vessels. The financial covenants each as defined within the credit facility are: a) the maintenance at all times of cash and cash equivalents in an amount equal to or greater than (i) $35.0 million, or (ii) 5% of Net Debt or total debt, as applicable; and the aggregate fair market value of the collateral vessels must be no less than 130% of the aggregate outstanding borrowing under the facility. As of December 31, 2023, the Company was in compliance with all covenants contained in this credit facility. September 2020 Secured Revolving Credit Facility. On September 17, 2020, the Company entered into a secured revolving credit facility with Nordea Bank ABP, Credit Agricole Corporate and Investment Bank, ING Bank N.V. London Branch, National Australia Bank, ABN AMRO Bank N.V. and BNP Paribas S.A. for a maximum principal amount of $210.0 million (the “September 2020 Secured Revolving Credit Facility”). The facility is due to mature in September 2025. As of December 31, 2023, an amount of $158.2 million was outstanding. The available facility amount shall be reduced semi-annually on June 30 and December 31 by an amount of $7.4 million followed by a final balloon payment on September 17, 2024, of $150.9 million. Interest on amounts drawn was payable at a rate of Comp SOFR plus 276 basis points per annum. This loan facility is secured by first priority mortgages on each of Navigator Eclipse, Navigator Luga, Navigator Nova, Navigator Prominence, and Navigator Yauza as well as assignments of earnings and insurances on these secured vessels. The financial covenants each as defined within the credit facility are: a) the maintenance at all times of cash and cash equivalents in an amount equal to or greater than (i) $35.0 million, or (ii) 5% of total indebtedness, as applicable; and b) the maintenance of the ratio of total stockholders’ equity to total assets of not less than 30%. The aggregate fair market value of the collateral vessels must be no less than 125% of the aggregate outstanding borrowing under the facility. As of December 31, 2023, the Company was in compliance with all covenants contained in this revolving credit facility. August 2021 Amendment and Restatement Agreement. In August 2021, as part of the Ultragas Transaction, the Company entered into an Amendment and Restatement Agreement with Danmarks Skibskredit A/S relating to a previously issued 2019 Senior Term Loan Facility, with four vessel owning entities as borrowers for a maximum principal amount of $66.95 million (the “August 2021 Amendment and Restatement Agreement”). The facility matures in August 2026 and is fully drawn down as of December 31, 2023, with an amount outstanding of $40.8 million which is repayable in half yearly installments of approximately $2.9 million followed by a payment of $26.2 million on the final repayment date of June 1, 2026. Under Amendment no.1 of the facility, dated June 2019, the overall rate of the facility on each tranche was fixed at interest rates between 3.77% and 3.780%. The facility is secured by first priority mortgages on each of Happy Osprey, Happy Peregrine, Happy Pelican and Happy Penguin, as well as assignment of earnings and insurances on these secured vessels. The financial covenants each as defined within the Senior Term Loan Facility are: a) the maintenance at all times of cash and cash equivalents in an amount equal to or greater than (i) $50.0 million and (ii) 5 per cent of the total indebtedness; and b) maintain a ratio of value adjusted total stockholders’ equity to value adjusted total assets of not less than 30%; and the aggregate fair market value of the collateral vessels must be no less than 135% of the aggregate outstanding borrowing under the facility. As of December 31, 2023, the Company was in compliance with all covenants contained in this credit facility. In August 2021, as part of the Ultragas Transaction, the Company became guarantor for the following four Senior Secured Term Loan Facilities, previously entered into by Othello Shipping Company S.A. or certain of its wholly owned vessel owning entities. DB Credit Facility A. On October 25, 2013, Atlantic Gas Shipping Inc. and Balearic Gas Shipping Inc. entered into a Senior Secured Term Loan Facility with Deutsche Bank AG, Hong Kong Branch for a maximum principal amount of $57.7 million (the “DB Credit Facility A”), to finance two newbuild LPG carriers, Atlantic Gas and Balearic Gas. The facility has a term of twelve years from the date of the vessels’ deliveries, maturing in April 2027. It is fully drawn down as of December 31, 2023, with an amount outstanding of $15.6 million which is repayable for each vessel tranche in half yearly installments of $1.2 million for twelve years from the date of each vessel drawdown. Interest on amounts drawn is payable at a rate of Comp SOFR plus 247 basis points per annum. This loan facility is secured by first priority mortgages on each of Atlantic Ga s and Balearic Gas as well as assignments of earnings and insurances on these secured vessels. The financial covenants each as defined within the Amended to the Term Loan Facility, dated August 3, 2021 are: a) the maintenance at all times of cash and cash equivalents in an amount equal to or greater than (i) $50.0 million, or (ii) 5% of total indebtedness (as defined), as applicable; b) the maintenance of the ratio of total stockholders’ equity to total assets of not less than 30% and the aggregate fair market value of the collateral vessels must be no less than 125% of the aggregate outstanding borrowing under the facility. As of December 31, 2023, the Company was in compliance with all covenants contained in this credit facility. Santander Credit Facility A. On October 30, 2013, Adriatic Gas Shipping Inc., Celtic Gas Shipping Inc. and Lalandia Shipping Company S.A entered into a Senior Secured Term Loan Facility with Banco Santander, S.A. and Korea Finance Corporation for a maximum principal amount of $81.0 million (the “Santander Credit Facility A”), to finance three newbuild LPG carriers, Adriatic Gas, Celtic Gas and Happy Albatross . The facility has a term of twelve years from the date of the vessels’ deliveries, maturing in May 2027. It is fully drawn down as of December 31, 2023, with an amount outstanding of $23.6 million which is repayable for each vessel tranche in half yearly installments of between $1.0 million and $1.2 million for twelve years from the date of each vessel drawdown. Interest on amounts drawn is payable at a rate of Comp SOFR plus 247 basis points per annum. This loan facility is secured by first priority mortgages on each of Adriatic Gas , Celtic Gas and Happy Albatross as well as assignments of earnings and insurances on these secured vessels. The financial covenants each as defined within the Amended to the Term Loan Facility, dated August 3, 2021 are: a) the maintenance at all times of cash and cash equivalents in an amount equal to or greater than (i) $50.0 million, or (ii) 5% of total indebtedness (as defined), as applicable; b) the maintenance of the ratio of total stockholders’ equity to total assets of not less than 30% and the aggregate fair market value of the collateral vessels must be no less than 125% of the aggregate outstanding borrowing under the facility. As of December 31, 2023, the Company was in compliance with all covenants contained in this credit facility. DB Credit Facility B. On July 31, 2015, Bering Gas Shipping Inc and Pacific Gas Shipping Inc entered into a Senior Secured Term Loan Facility with Deutsche Bank AG, Hong Kong Branch for a maximum principal amount of $60.9 million (the “DB Credit Facility B”), to finance two newbuild LPG carriers, Bering Gas and Pacific Gas . The facility has a term of twelve years from the date of the vessels’ deliveries, maturing in December 2028. It is fully drawn down as of December 31, 2023, with an amount outstanding of $26.6 million which is repayable for each vessel tranche in half yearly installments of $1.3 million for twelve years from the date of each vessel drawdown. Interest on amounts drawn is payable at a rate of Comp SOFR plus 247 basis points per annum. This loan facility is secured by first priority mortgages on each of Bering Ga s and Pacific Gas as well as assignments of earnings and insurances on these secured vessels. The financial covenants each as defined within the Amended to the Term Loan Facility, dated August 3, 2021 are: a) the maintenance at all times of cash and cash equivalents in an amount equal to or greater than (i) $50.0 million, or (ii) 5% of total indebtedness (as defined), as applicable; b) the maintenance of the ratio of total stockholders’ equity to total assets of not less than 30% and the aggregate fair market value of the collateral vessels must be no less than 125% of the aggregate outstanding borrowing under the facility. As of December 31, 2023, the Company was in compliance with all covenants contained in this credit facility. Santander Credit Facility B. On July 31, 2015, Arctic Gas Shipping Inc and Falstria Shipping Company S.A entered into a Senior Secured Term Loan Facility with Banco Santander, S.A. for a maximum principal amount of $55.8 million (the “Santander Credit Facility B”), to finance two newbuild LPG carriers, Arctic Gas and Happy Avocet. The facility has a term of twelve years from the date of the vessels’ deliveries, maturing in January 2029. It is fully drawn down as of December 31, 2023, with an amount outstanding of $25.6 million which is repayable for each vessel tranche in half yearly installments of $1.1 million and $1.3 million for 12 years from the date of each vessel drawdown. Interest on amounts drawn is payable at a rate of Comp SOFR plus 247 basis points per annum. This loan facility is secured by first priority mortgages on each of Arctic gas and Happy Avocet as well as assignments of earnings and insurances on these secured vessels. The financial covenants each as defined within the Amended to the Term Loan Facility, dated August 3, 2021 are: a) the maintenance at all times of cash and cash equivalents in an amount equal to or greater than (i) $50.0 million, or (ii) 5% of total indebtedness (as defined), as applicable; b) the maintenance of the ratio of total stockholders’ equity to total assets of not less than 30% and the aggregate fair market value of the collateral vessels must be no less than 125% of the aggregate outstanding borrowing under the facility. As of December 31, 2023, the Company was in compliance with all covenants contained in this credit facility. December 2022 Secured Term Loan and Revolving Credit Facility. On December 7, 2022, the Company entered into a secured revolving credit facility with Credit Agricole Corporate and Investment Bank and Deutsche Bank AG for a maximum principal amount of $111.8 million (the “December 2022 Secured Revolving Credit Facility”). The facility is due to mature in September 2028. As of December 31, 2023, an amount of $72.3 million was outstanding. The available facility amount shall be reduced quarterly by an amount of $3.1 million followed by a final balloon payment on September 30, 2028, of $39.7 million. Interest on amounts drawn was payable at a rate of SOFR plus 209 basis points. This loan facility is secured by first priority mortgages on each of Navigator Umbrio , Navigator Centuari , Navigator Ceres , Navigator Ceto and Navigator Copernico as well as assignments of earnings and insurances on these secured vessels. The financial covenants each as defined within the credit facility are: a) the maintenance at all times of cash and cash equivalents in an amount equal to or greater than (i) $50.0 million, or (ii) 5% of total indebtedness, as applicable; and b) the maintenance of the ratio of total stockholders’ equity to total assets of not less than 30%. The aggregate fair market value of the collateral vessels must be no less than 135% of the aggregate outstanding borrowing under the facility. As of December 31, 2023, the Company was in compliance with all covenants contained in this revolving credit facility. Greater Bay JV Term Loan Facility. On December 15, 2022, the Company entered into a secured term loan facility with ING Bank, London Branch, Skandinaviska Enskilda Banken AB (Publ), CTBC Bank and Shinsei Bank Limited for a maximum principal amount of $151.3 million (the “Greater Bay JV Term Loan Facility”) to provide financing for the intended acquisition of five ethylene carriers. As of December 31, 2023, the full facility amount of $151.3 million has been drawn down. As of December 31, 2023, an amount of $141.8 million was outstanding.The term loan outstanding amount shall be reduced quarterly by an amount of approximately $2.7 million followed by a final payment on the six This loan facility is secured by first priority mortgages on each of the five ethylene vessels: Navigator Luna, Navigator Solar, Navigator Vega, Navigator Luna and Navigator Equator as well as assignments of earnings and insurances on these secured vessels. The financial covenants each as defined within the term loan facility are: a) the maintenance at all times of cash and cash equivalents in an amount equal to or greater than (i) $35.0 million, or (ii) 5% of total indebtedness, as applicable; b) the maintenance of the ratio of total stockholders’ equity to total assets of not less than 30% and c) the joint venture entities (as defined) maintain at all times, from the date falling 12 months after the first drawdown, cash and cash equivalents equal to or greater than $3.0 million. The aggregate fair market value of the collateral vessels must be no less than 125% of the aggregate outstanding borrowing under the facility. As of December 31, 2023, the Company was in compliance with all covenants contained in this revolving credit facility. March 2023 Senior Secured Term Loan. On March 20, 2023, the Company entered into a senior secured term loan with Nordea Bank ABP, ABN AMRO Bank N.V. Skandinaviska Enskilda Banken AB (Publ), and BNP Paribas S.A. to refinance the June 2017 Secured Term Loan and Revolving Credit Facility and the October 2016 Secured Term Loan and Revolving Credit Facility that were due to mature in June and October 2023, respectively. The facility has a term of six years, maturing in March 2029 and is for a maximum principal amount of $200.0 million. The available facility amount shall be reduced quarterly by an amount of $8.3 million followed by a final balloon payment in March 2029. As of December 31, 2023, the Facility was fully drawn with an amount outstanding of $175.0 million Interest on amounts drawn is payable at a rate of Comp SOFR plus 210 basis points. This loan facility is secured by first priority mortgages on each of the : Navigator Leo, Navigator Libra, Navigator Jorf, Navigator Galaxy, Navigator Genesis, Navigator Grace, Navigator Gusto, Navigator Glory, Navigator Scorpio and Navigator Virgo as well as assignments of earnings and insurances on these secured vessels. The financial covenants each as defined within the term loan facility are: a) the maintenance at all times of cash and cash equivalents in an amount equal to or greater than (i) $50.0 million, or (ii) 5% of total indebtedness, as applicable; b) the maintenance of the ratio of total stockholders’ equity to total assets of not less than 30%. The aggregate fair market value of the collateral vessels must be no less than 130% of the aggregate outstanding borrowing under the facility. As of December 31, 2023, the Company was in compliance with all covenants contained in this revolving credit facility. Navigator Aurora Facility. In October 2019, the SPV, OCY Aurora Ltd, which owns Navigator Aurora , entered into secured financing agreements for $69.1 million consisting of a loan facility, the “Navigator Aurora Facility” which is denominated in USD. The Navigator Aurora Facility is a seven year unsecured loan provided by OCY Malta Limited, the parent of OCY Aurora Ltd. The Navigator Aurora Facility bears interest at Term SOFR plus 201 basis points and is repayable with a balloon payment on maturity. As of December 31, 2023, there was $41.3 million in borrowings outstanding under the Navigator Aurora Facility December 31, 2022: $48.1 million). The Navigator Aurora Facility is subordinated to a further bank loan where OCY Aurora Ltd. is the guarantor and Navigator Aurora is pledged as security. The likelihood of the Company having to make any payments under the guarantee is remote. The shipbroker appraised value of Navigator Aurora exceeded the borrowings ou tstanding under the Navigator Aurora Facility by approximately $39.9 million as of December 31, 2023 (As of December 31, 2022: $28.9 million). The fair value of the vessel is significantly greater than the amount of the senior bank loan it is pledged against, and therefore the guara ntee made by the SPV to the lenders of the subordinated loan where OCY Malta Ltd is the borrower has negligible fair value. The following table shows the breakdown of secured term loan facilities and total deferred financing costs split between current and non-current liabilities as of December 31, 2023, and 2022: December 31, 2022 December 31, 2023 (in thousands) Current Liability Current portion of secured term loan facilities and revolving credit facilities $ 101,558 $ 123,024 Less: current portion of deferred financing costs (2,549) (2,697) Current portion of secured term loan facilities, net of deferred financing costs 99,009 120,327 Non-Current Liability Secured term loan facilities and revolving credit facilities net of current portion, excluding amount due to related parties 612,349 646,131 Amount due to related parties* 48,140 41,342 Less: non-current portion of deferred financing costs (4,011) (4,156) Non-current secured term loan facilities and revolving credit facilities, net of current and non-current deferred financing costs $ 656,478 $ 683,317 * Amount due to related parties relates to the Navigator Aurora Facility held within a lessor entity (for which legal ownership resides with a financial institution) that we are required to consolidate under U.S. GAAP into our financial statements as a variable interest entity.

Senior Unsecured Bonds

Senior Unsecured Bonds	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Senior Unsecured Bonds	10. Senior Unsecured Bonds In September 2020, the Company issued senior unsecured bonds in an aggregate principal amount of $100 million with Nordic Trustee AS as the bond trustee (the “2020 Bonds”). The net proceeds of the issuance of the 2020 Bonds were used to redeem in full all of our outstanding previously issued 2017 bonds. The 2020 Bonds are governed by Norwegian law and are listed on the Nordic ABM which is operated and organized by Oslo Børs ASA. The redemption of our 2017 bonds is accounted for as a debt extinguishment and the issuance of the 2020 Bonds is treated as the issuance of new debt. On redemption of our 2017 bonds, the Company recognized a loss on extinguishment of $0.5 million, being the difference between the reacquisition price of the debt and the net carrying amount of the extinguished debt. Issuance costs for the 2020 Bonds of $2.0 million have been deferred and are being amortized over the term of the 2020 Bonds using the effective rate method. The 2020 Bonds bear interest at a rate of 8.0% per annum and mature on September 10, 2025. Interest is payable semi-annually in arrears on March 10 and September 10. The 2020 Bonds are redeemable by the Company, in whole or in part, at any time. Any 2020 Bonds redeemed; up until September 9, 2023, will be priced at the aggregate of the net present value (based on the Norwegian government bond rate plus 50 basis points) of 103.2% of par and interest payable up to September 9, 2023; from September 10, 2023, up until September 9, 2024, are redeemable at 103.2% of par; from September 10, 2024, up until March 9, 2025, are redeemable at 101.6% of par, and from March 10, 2025, to the maturity date are redeemable at 100% of par, in each case, in cash plus accrued interest. Additional financial covenants (each as defined within the bond agreement governing the 2020 Bonds (the “2020 Bond Agreement”) are: (a) the issuer shall ensure that the Group (meaning “the Company and its subsidiaries”) maintains a minimum liquidity of no less than $35 million; and (b) maintain a Group equity ratio (as defined in the 2020 Bond Agreement) of at least 30%. As of December 31, 2022, the Company complied with all covenants in respect of the 2020 Bonds. The 2020 Bond Agreement provides that we may declare or pay dividends to shareholders provided that the Company maintains a minimum liquidity of $60 million unless an event of default has occurred and is continuing. The 2020 Bond Agreement also limits us and our subsidiaries from, among other things, entering into mergers and divestitures, engaging in transactions with affiliates, or incurring any additional liens which would have a material adverse effect. In addition, the 2020 Bond Agreement includes customary events of default, including those relating to a failure to pay principal or interest, a breach of covenant, false representation and warranty, a cross-default to other indebtedness, the occurrence of a material adverse effect, or our insolvency or dissolution. The following table shows the breakdown of our senior unsecured bonds and total deferred financing costs as of December 31, 2023, and 2022: December 31, 2022 December 31, 2023 (in thousands) Senior Unsecured Bonds Total 2020 Bonds $ 100,000 $ 100,000 Less Treasury bonds — (9,000) Less deferred financing costs (1,057) (664) Total Bonds, net of deferred financing costs $ 98,943 $ 90,336 In September 2023, we purchased an aggregate $9.0 million of the 2020 Bonds in the open market using cash on hand. These purchased 2020 Bonds have not been canceled or redeemed and the Company intends to hold the bonds to maturity.

Earnings_(loss) per Share

Earnings/(loss) per Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Earnings/(loss) per Share	11. Earnings/(loss) per Share Basic gain/(loss) per share is calculated by dividing the net income/(loss) available to common shareholders by the average number of common shares outstanding during the periods. Diluted earnings per share is calculated by adjusting the weighted average number of common shares used for calculating basic earnings per share for the effects of all potentially dilutive shares. The following table shows the calculation of both the basic and diluted number of weighted average outstanding shares for the years ended December 31, 2021, 2022 and 2023: December 31, 2021 December 31, 2022 December 31, 2023 (in thousands, except share data) Basic and diluted net income/(loss) available to common stockholders of Navigator Holdings Ltd $ (30,964) $ 53,473 $ 82,255 Basic weighted average number of shares 64,669,567 77,234,830 74,096,284 Effect of dilutive potential share options*: — 323,664 511,165 Diluted weighted average number of shares 64,669,567 77,558,494 74,607,449 * Due to a loss for the year ended December 31, 2021, no incremental shares are included because the effect would be anti-dilutive. The number of potentially dilutive shares excluded from the calculation for the year ended December 31, 2021 was 33,176.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	12. Share-Based Compensation In 2013, the Company’s Board adopted the 2013 Restricted Stock Plan (the “2013 Plan”), which entitled officers, employees, consultants and directors of the Company to receive grants of restricted stock of the Company’s common stock or share options in the Company’s common stock. The Company’s Board adopted the 2023 Restricted Stock Plan (the “2023 Plan”) to replace the 2013 Plan which ended in 2023. The 2013 and 2023 Plans are administered by the Compensation Committee with certain decisions subject to the approval of our Board. The maximum aggregate number of common shares that may be delivered pursuant to options or restricted stock awards granted under the 2013 and 2023 Plans are 3,000,000 shares of common stock per plan. A holder of restricted stock, awarded under the 2013 and 2023 Plan, shall have the same voting and dividend rights as the Company’s other common stockholders in relation to those shares. Share awards On March 15, 2023, under the Navigator Holdings Ltd. 2013 Long-Term Incentive Plan (the “2013 Plan”) the Company granted a total of 47,829 restricted shares, 36,327 of which were granted to non-employee directors and 11,502 of which were granted to the officers and employees of the Company. The weighted average value of the shares granted was $12.45 per share. The restricted shares granted to the non-employee directors vest on the first anniversary of the grant date and the restricted shares granted to the officers and employees of the Company vest on the third anniversary of the grant date. On March 17, 2023, 45,864 shares which were previously granted to non-employee directors under the 2013 Plan with a weighted average grant value of $10.65 per share, vested at a fair value of $553,120. In addition on March 19, 2023, 12,159 shares which were granted in 2020 to officers and employees of the Company, all of which had a weighted average grant value of $7.90 vested at a fair value of $157,581. On June 30, 2023, 15,627 shares which were previously granted to an officer of the Company under the 2013 Plan with a weighted average grant value of $9.84 per share, were accelerated to vesting at a fair value of $203,307. On December 31, 2023, 4,494 shares which were previously granted to a non-employee director of the Company under the 2013 Plan with a weighted average grant value of $12.45 per share, were accelerated to vesting at a fair value of $65,388. On March 17, 2022, the Company granted 57,402 restricted shares under the Navigator Holdings Ltd. 2013 Long-Term Incentive Plan (the “2013 Plan”) to non-employee directors with a weighted average value of $10.40 per share. These restricted shares vest on the first anniversary of the grant date. On the same date the Company granted 18,314 restricted shares to the officers and employees of the Company with a weighted average value of $10.40 per share. In addition on April 4, 2022, the Company granted 10,000 restricted shares to the officers and employees of the Company with a weighted average value of $12.17 per share. The restricted shares issued to the officers and employees of the Company vest on the third anniversary of the grant date. During the year ended December 31, 2022, 29,295 shares that were granted to non-employee directors in March 2021, under the 2013 Plan and which had a weighted average grant value of $10.26 per share, vested with a fair value of $311,698. In addition, 11,538 shares previously granted to non-employee directors with a weighted average grant value of $10.40, were accelerated and vested at a fair value of $119,995. Furthermore, 28,497 shares granted in 2019 with a grant value of $11.06 to officers and employees of the Company vested at a fair value of $274,240, 2,174 shares previously granted in 2021 to officers and employees with a weighted average grant value of $10.26, were accelerated and vested at a fair value of $15,000. Restricted share grant activity for the year ended December 31, 2023, and 2022 was as follows: Number of granted Weighted Weighted Balance as of January 1, 2022 103,487 $ 9.92 1.06 years Granted 85,716 10.83 Vested (71,504) 10.64 Forfeited (2,006) 9.11 Balance as of December 31, 2022 115,693 $ 10.16 1.04 years Granted 47,829 12.45 Vested (78,144) 10.16 Balance as of December 31, 2023 85,378 $ 11.44 0.81 years We account for forfeitures as they occur. Using the graded straight-line method of expensing the restricted stock grants, the weighted average estimated value of the shares calculated at the date of grant is recognized as compensation cost in the statements of operations over the period to the vesting date. During the year ended December 31, 2023, the Company recognized $819,919 in share-based compensation costs relating to share grants (December 31, 2022: $799,902 and December 31, 2021: $1,373,292). As of December 31, 2023, there was a total of $400,282 unrecognized compensation costs relating to the expected future vesting of share-based awards (December 31, 2022: $619,869) which are expected to be recognized over a weighted average period of 0.81 years (December 31, 2022: 1.04 years). Share options Share options issued under the 2013 Plan are not exercisable until the third anniversary of the grant date and can be exercised up to the tenth anniversary of the date of the grants. The fair value of each option is calculated on the date of the grant based on the Black-Scholes valuation model. Expected volatility is based on the historic volatility of the Company’s stock price . The expected term of the options granted is anticipated to occur in the range between 4 and 6.5 years. The risk free rate is the rate adopted from the U.S. Government Zero Coupon Bond. The movements in the existing share options during the years ended December 31, 2023, and 2022 were as follows: Options Number of options outstanding Weighted average exercise price per share Aggregate Balance as of January 1, 2022, 310,856 $ 21.37 $ — Issuances during the year 10,000 9.24 27,200 Balance as of December 31, 2022 320,856 20.99 — Issuance during the year 262,412 15.45 1,180,854 Forfeited during the year (35,875) 22.35 — Balance as of December 31, 2023 547,393 $ 18.25 $ 1,207,654 There were 547,393 options exercisable as of December 31, 2023. The weighted average exercise price of the share options exercisable as of December 31, 2023 was $18.25. The weighted average remaining contractual term of options outstanding as of December 31, 2023, was 2.99 years. During the year ended December 31, 2023, the Company recognized $422,936 as share-based compensation costs (December 31, 2022: $14,240 and December 31, 2021: $nil) relating to options forfeited under the 2013 Plan. As of December 31, 2023, there were $1,142,618 in unrecognized compensation costs relating to options under the 2013 Plan. As of December 31, 2023, 274,981 share options had vested but had not been exercised. The Company has employee stock purchase plans in place which is a savings-related share scheme where certain employees have the option to buy common stock at a 15% discount to the share price at the grant dates of July 9, 2021, August 8, 2022,and July 17, 2023. The employee stock purchase plans have three-year vesting periods. No shares have been issued since the inception of the scheme. Using the Black-Scholes valuation model, the Company recognized compensation costs of $41,588 relating to employee stock purchase plans for the year ended December 31, 2023 (December 31, 2022: $38,220).

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	13. Commitments and Contingencies The contractual obligations schedule set forth below summarizes our contractual obligations as of December 31, 2023: 2024 2025 2026 2027 2028 Thereafter Total (in thousands) Secured term loan facilities and revolving credit facilities $ 123,024 $ 292,616 $ 107,216 $ 67,539 $ 93,931 $ 84,829 $ 769,155 Ethylene Export Terminal capital contributions(1) 94,931 — — — — — 94,931 2020 Bonds — 100,000 — — — — 100,000 Office operating leases(2) 1,027 1,279 1,066 1,274 — — 4,646 Navigator Aurora Facility(3) — — 41,342 — — — 41,342 Total contractual obligations $ 218,982 $ 393,895 $ 149,624 $ 68,813 $ 93,931 $ 84,829 $ 1,010,074 (1) We have committed to invest further in terminal infrastructure, such as expanding our existing Ethylene Export Terminal. The remaining capital contributions required from us to the Export Terminal Joint Venture for the Terminal Expansion Project are expected to be approximately $95 million. (2) The Company occupies office space in London with a new lease that commenced in January 2022 for a period of 10 years with a mutual break option in January 2027, which is the fifth anniversary from the lease commencement date. The annual gross rent under this lease is approximately $1.1 million, with an initial rent free period of 27 months, of which 13 months of the rent free period is repayable in the event that the break option is exercised. The lease term for our representative office in Gdynia, Poland was revised from January 2022 for an amended period to May 31, 2025. The gross rent per year is approximately $64,000. The Company occupies office space in Copenhagen with a lease commenced in September 2021, that expires in December 2025. The gross rent per year is approximately $180,000. The Company entered into a lease for office space in Houston that expires on March 31, 2025. The annual gross rent under this lease is approximately $60,000. The weighted average remaining contractual lease term for the above four office leases on December 31, 2023, was 3.88 years (December 31, 2022: 3.89 years). (3) The Navigator Aurora Facility is a loan facility held within a lessor entity (for which legal ownership resides with financial institutions) that we are required to consolidate under U.S. GAAP into our financial statements as a variable interest entity. Please read Note 8. Variable Interest Entities .

Operating Lease Liabilities

Operating Lease Liabilities	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Operating Lease Liabilities	14. Operating Lease Liabilities Lessee accounting Under ASU 2016-02 we have recognized Right of Use (“ROU”) assets and liabilities on our balance sheet for our operating leases relating to long-term commitments for our offices in London, Gdynia, Denmark, Manila and Houston. Lease liabilities and ROU assets for operating leases are initially measured at the present value of the lease payments not yet paid, discounted using the discount rate for the lease determined at the later of the date of initial application or the lease commencement date. As a lessee, the Company has elected not to separate lease and non-lease components pertaining to operating lease payments. The discount rate used is the Company’s incremental borrowing rate, defined as the rate of interest that the Company as lessee would have to pay to borrow, on a collateralized basis over a similar term, an amount equal to the lease payments in a similar economic environment. Consequently, operating lease liabilities of $4.4 million, based on the present value of the remaining minimum rental payments; and ROU assets of $2.9 million have been recognized on the Company’s consolidated balance sheet as of December 31, 2023 (December 31, 2022: operating lease liabilities of $4.3 million and ROU assets of $3.6 million) with accretion of the liabilities and amortization of the ROU assets over the remaining length of the lease terms. The lease for our office in Poland is subject to annual indexation each January according to the Eurozone All Items Monetary Union Index of Consumer Prices (“MUICP”) index as quoted for the previous year. The lease payments relating to the Poland office lease are not remeasured at the beginning of each year, the effect of future increases in MUICP are recognized as part of lease-related costs in each year and classified as variable lease costs. For the year ended December 31, 2023, total operating lease costs were $1.2 million (December 31, 2022: $1.2 million), which include immaterial variable lease costs and are presented in General and Administrative costs within the consolidated statements of operations and in cash flows from operating activities within the consolidated statements of cash flows. The Company’s consolidated balance sheet includes a ROU asset and a corresponding liability for operating lease contracts where the Company is a lessee. The discount rate used to measure the lease liability presented on the Company’s consolidated balance sheet is the incremental cost of borrowing since the rate implicit in the lease cannot be determined. The liabilities described below are for the Company’s offices in London, Gdynia, Houston,Manila and Denmark which are denominated in various currencies. At December 31, 2023, the weighted average discount rate across the three leases was 2.95% (December 31, 2022: 2.87%). At December 31, 2023, based on the remaining lease liabilities, the weighted average remaining operating lease term was 3.17 years (December 31, 2022: 3.88 years). Please read "Note 13. Commitments and Contingencies " to our consolidated financial statements. A maturity analysis of the undiscounted cash flows of the Company’s operating lease liabilities as at December 31, 2022 and 2023 is presented in the following table: December 31, 2022 December 31, 2023 (in thousands) One year $ 924 $ 1,027 Two years 1,246 1,279 Three years 1,209 1,066 Four years 1,211 1,274 Total undiscounted operating lease commitments 4,590 4,646 Less: Discount adjustment (339) (232) Total operating lease liabilities 4,251 4,414 Less: current portion (219) (914) Total operating lease liabilities, non-current portion $ 4,032 $ 3,500

Concentration of Credit Risks

Concentration of Credit Risks	12 Months Ended
	Dec. 31, 2023
Risks and Uncertainties [Abstract]
Concentration of Credit Risks	15. Concentration of Credit Risks The Company’s vessels are chartered under either a time charter arrangement or voyage charter arrangement. Under a time charter arrangement, no security is provided for the payment of charter hire. However, payment is typically required monthly in advance. Under a voyage charter arrangement, a lien may sometimes be placed on the cargo to secure the payment of the accounts receivable, as permitted by the prevailing charter party agreement. The Company derives a significant portion of its revenues from a limited number of charterers. During 2023, one of our charterers contributed approximately 10.1% or $49.7 million. Whereas our top three charterers contributed between 7.0% and 10.0% each, and in aggregate 25.0% or approximately $122.6 million. (2022: None of our charterers contributed 10% of our revenue. Whereas our top three charterers contributed between 8.0% and 10.0% each, and in aggregate 26.5% or approximately $108.4 million). Other than 3% of operating revenues arising from vessels trading exclusively in Indonesia during the year ended December 31, 2023 (year ended December 31, 2022 and 2021: 3.7% and 5.6%, respectively), our vessels operate on a worldwide basis and are not restricted to specific locations. The Company considers that its equity method investments do not meet the criteria in ASC 280 to be separate reportable segments. As of December 31, 2023, and December 31, 2022, all of the Company’s cash, cash equivalents, restricted cash, and short-term investments were held by large financial institutions, highly rated by a recognized rating agency.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	16. Income Taxes Navigator Holdings Ltd and its vessel owning subsidiaries are incorporated in the Marshall Islands and under the laws of the Marshall Islands are not subject to tax on income or capital gains and no Marshall Islands withholding tax will be imposed on dividends paid by the Company to its stockholders. However, a number of the Company’s subsidiaries in the U.S, U.K., Poland, Denmark and Singapore, as well as the Maltese VIE (please read "Note 8. Variable Interest Entities " to our consolidated financial statements) are subject to local taxes. Year Ended December 31, 2021 Year Ended December 31, 2022 Year Ended December 31, 2023 (in thousands) Income/(loss) before income taxes and share of results of equity method investments $ (38,394) $ 35,033 $ 70,590 Tax expense at statutory rate — — — Total statutory tax charge — — — Tax charge in U.S. subsidiaries 855 5,052 3,200 Tax charge in U.K. subsidiaries 566 386 803 Tax charge in Polish subsidiary 345 171 (18) Tax charge in Singapore subsidiary 47 — 6 Tax charge in Danish subsidiary 74 167 234 Tax charge in Maltese VIE ( See Note 8) 82 99 87 Withholding taxes — 74 13 Total tax charge $ 1,969 $ 5,949 $ 4,325 Breakdown of current/deferred tax expense Current tax expense $ 1,264 $ 2,107 $ 1,951 Deferred tax expense 705 3,842 2,374 Total corporate income tax $ 1,969 $ 5,949 $ 4,325 The total of all deferred tax liabilities on our balance sheet as of December 31, 2023 is $7.0 million (December 31, 2022: $4.3 million). The deferred tax asset of $13.7 million includes $13.5 million related to carry forwards losses associated with our Export Terminal Joint Venture which can be utilized against 80% of our future profits in any one year from the terminal operations. The U.S. losses relate to federal tax losses which can be carried forward indefinitely. The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of December 31, 2023, and December 31, 2022, respectively are in the following table. December 31, 2022 December 31, 2023 (in thousands) Deferred tax asset Net operating losses carry forwards $ 17,029 $ 13,522 Other temporary differences 116 205 Total deferred tax assets 17,145 13,727 Less valuation allowance — — Deferred tax asset, net of valuation allowance $ 17,145 $ 13,727 Deferred tax liabilities Investment in joint venture $ 21,122 $ 20,002 Other temporary differences 273 741 Total deferred tax liabilities 21,395 20,743 Net deferred tax asset/(liability) $ (4,250) $ (7,016) The net deferred tax asset/(liability) relates to deferred tax assets and liabilities in different jurisdictions.

Cash, Cash Equivalents and Rest

Cash, Cash Equivalents and Restricted Cash	12 Months Ended
	Dec. 31, 2023
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents and Restricted Cash	17. Cash, Cash Equivalents and Restricted Cash The following table shows the breakdown of cash, cash equivalents and restricted cash as of December 31, 2023 and 2022: December 31, 2022 December 31, 2023 (in thousands) Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents $ 146,560 $ 149,581 Cash and cash equivalents held by VIE 108 23 Restricted cash 6,526 8,638 Total cash, cash equivalents and restricted cash $ 153,194 $ 158,242 Our secured term loan facilities and revolving credit facilities require that the borrowers have liquidity (including undrawn available lines of credit with a maturity exceeding 12 months) of no less than (i) $25 million, $35 million, or $50 million, or (ii) 5% of net debt or total debt which was $45.1 million as of December 31, 2023, as applicable, whichever is greater. This requirement does not restrict the cash maintained within our bank accounts but requires the Company to hold no less than that amount of free cash within its bank accounts or treasury deposits. Included within total cash, cash equivalents and restricted cash as of December 31, 2023, is an amount of $23,000 relating to cash belonging to the VIE’s that we are required to consolidate under U.S. GAAP (December 31, 2022: $0.1 million). Please read "Note 8. Variable Interest Entities ". Amounts included in restricted cash represent cash in deposit accounts that is required to be deposited and held in accordance with the terms of the related secured term loans from a banking lender. We consider this cash to be restricted and not available for our general use.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	18. Related Party Transactions The following table summarizes our transactions with related parties for the years ended December 31, 2023, 2022 and 2021: Year ended December 31, 2021 Year ended December 31, 2022 Year ended December 31, 2023 (in thousands) Net income / (expenses) Luna Pool Agency Limited $ (30) $ (28) $ (42) Ocean Yield Malta Limited (1,202) (1,914) (3,221) Ultranav Business Support ApS (936) (1,115) (100) Naviera Ultranav Limitada (25) (15) (13) Norton Lilly International Inc — (131) — Total $ (2,193) $ (3,203) $ (3,376) The following table sets out the balances due from related parties as at December 31, 2023 and 2022: December 31, 2022 December 31, 2023 (in thousands) Due from Related Parties Luna Pool Agency Limited $ 12,334 $ 30,804 Unigas Pool 4,009 2,598 Dan Unity 20 — Total $ 16,363 $ 33,402 The following table sets out the balances due to related parties as at December 31, 2023 and 2022: December 31, 2022 December 31, 2023 (in thousands) Due to Related Parties Ocean Yield Malta Limited $ 48,684 $ 41,912 Naviera Ultranav Limitada 51 — Ultranav Business Support ApS* — 36 Total $ 48,735 $ 41,948 *

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Stockholders' Equity	19. Stockholders’ Equity As of December 31, 2023, the Company’s authorized share capital consisted of 400,000,000 shares of common stock and 40,000,000 shares of preferred stock, each at par value of $0.01 per share. There were 73,208,586 shares of common stock issued and outstanding and no shares of preferred stock issued and outstanding at December 31, 2023 (December 31, 2022: 76,804,474 shares of common stock issued and outstanding and no shares of preferred stock issued and outstanding). Each outstanding share of common stock entitles the holder to one vote on all matters submitted to a vote of shareholders. Subject to preferences that may be applicable to any outstanding preferred stock, holders of common stock are entitled to receive ratably all dividends, if any, declared by our board of directors out of funds legally available for dividends. Agreements governing our indebtedness impose restrictions on us, including, among other things, limiting our ability to pay dividends out of operating revenues generated by the vessels securing such indebtedness, redeem any shares or make any other payment to our equity holders, if there is a default under such agreements.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	20. Subsequent Events On March 12, 2024, the Company announced that the board of directors declared a cash dividend of $0.05 per share of the Company’s common stock for the fourth quarter of 2023, payable on April 25, 2024 to all shareholders of record as of the close of business New York time on April 4, 2024. The aggregate amount of the dividend is expected to be approximately $3.7 million, which the Company anticipates will be funded from cash on hand. We have repurchased and canceled 33,064 shares between December 31, 2023 and March 27, 2024, resulting in 73,175,552 shares outstanding as of March 27, 2024.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Management has evaluated the Company’s ability to continue as a going concern and considered the conditions and events that could raise substantial doubt about the Company’s ability to continue as a going concern within 12 months after these financial statements are issued. As part of the assessment, management has included consideration of the following; • the current financial condition and liquidity sources, including current funds available and forecasted future cash flows; • any likely effects of global epidemics or other health crises, such as the COVID-19 pandemic; • the effects of the conflict in Ukraine, Red sea, and the Gaza region on the Company’s business, including potential escalations or wider implications on other countries as well as possible effects of trade disruptions; • environmental regulation affecting vessels' Energy Efficiency Existing Ship Index (“EEXI”); and • total capital contributions required for the Terminal Expansion Project. Management has determined that it is appropriate to continue to adopt the going concern basis in preparing the financial statements. The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries and Variable Interest Entities (“VIE”) for which the Company is a primary beneficiary and which are also consolidated (See Note 8. Variable Interest Entities to our consolidated financial statements). All intercompany accounts and transactions have been eliminated on consolidation. We operate the Ethylene Export Terminal through our 50/50 Export Terminal Joint Venture. Our joint venture partner is the sole managing member of the Export Terminal Joint Venture and it is also the operator of the Ethylene Export Terminal. The Export Terminal Joint Venture is organized as a limited liability company and maintains separate ownership accounts, consequently, we account for our investment using the equity method as our ownership interest is 50% and we exercise joint control over the investee’s operating and financial policies. We disclose our proportionate share of profits and losses from equity method unconsolidated affiliates in the statement of operations and adjust the carrying amount of our equity method investments on the balance sheet accordingly. The carrying amount is recognized initially at cost, which includes interest capitalized from the terminal loan facility utilized during the construction phase. The capitalized interest will be amortized over the useful life of the terminal. After initial recognition, the consolidated financial statements will include the Company’s share of the profit or loss and other comprehensive income (“OCI”) of equity-accounted investees, until the date on which joint control ceases. In March 2020, the Company collaborated with Pacific Gas Pte. Ltd. and Greater Bay Gas to form and manage the Luna Pool as Pool Participants. As part of the formation of the Luna Pool, Luna Pool Agency Limited, (“Pool Agency”) was established. The investment in the Pool Agency created a 50/50 joint venture with Greater Bay Gas as outlined by Accounting Standards Codification (“ASC”) 323 – Investments -Equity Method and Joint Ventures (“ASC 323”). The Company’s investment in Pool Agency is accounted for as an equity investment in accordance with the guidance within ASC 810 – Consolidation and ASC 323. Pool revenues and expenses within the Luna Pool are accounted for in accordance with ASC 808 – Collaborative Arrangements. We own a 50% share in Dan Unity CO2 A/S (“Dan Unity”). Dan-Unity is a 50/50 joint venture involving one of our subsidiaries, and the joint venture partners, who combine their financial capacities, expertise in, and experience with designing and potentially constructing specialized CO2 gas carriers and would handle all activities of seaborne CO2 transportation. Dan Unity is accounted for as an investment using the equity method in accordance with the guidance within ASC 810 – Consolidation, and ASC 323 – Equity Method and Joint Ventures.
Collaborative Arrangements	Collaborative Arrangements The Pool Participants manage and participate in the activities of the Luna Pool through an executive committee comprising equal membership from both Pool Participants. Certain decisions made by the executive committee as to the operations of the Luna Pool require the unanimous agreement of both participants with others requiring a majority of votes. The Company’s wholly owned subsidiary, NGT Services (U.K.) Limited acts as commercial manager (“Commercial Manager”) to the Luna Pool. The Collaborative arrangement ended following the acquisition by us of the final vessel, Navigator Vega, on April 13, 2023. Under the pool agreement, the Commercial Manager is responsible, as an agent, for the marketing and chartering of the participating vessels, collection of revenues and paying voyage costs such as port call expenses, bunkers and brokers’ commissions in relation to charter contracts, but the vessel owners continue to be fully responsible for the financing, insurance, crewing and technical management of their respective vessels. The Commercial Manager receives a fee based on the net revenues of the Luna Pool, which is levied on the Pool Participants, which after the elimination of inter group income, was $0.1 million for the year ended December 31, 2023 (December 31, 2022 and 2021: $0.4 million). Pool revenues and expenses within the Luna Pool are accounted for in accordance with ASC 808 – Collaborative Arrangements; Pool earnings (gross earnings of the pool less costs and overheads of the Luna Pool and fees to the Commercial Manager) are aggregated and then allocated to the Pool Participants in accordance with an apportionment for each participant’s vessels multiplied by the number of days each of their vessels are on hire in the pool during the relevant period and therefore the Company is exposed to risks and rewards dependent on the commercial success of the Luna Pool. We have concluded that the Company is an active participant due to its representation on the executive committee and the participation of the Commercial Manager, as is the other Pool Participant. We have presented our share of net income earned under the Luna Pool collaborative arrangement across a number of lines in our consolidated statements of operations. For revenues and expenses earned/incurred specifically by the Company’s vessels and for which we are deemed to be the principal, these are presented gross on the face of our consolidated statements of operations within operating revenues, voyage expenses and brokerage commissions. Our share of pool net revenues generated by the other Pool Participant’s vessels in the Luna Pool collaborative arrangement is presented on the face of our consolidated statements of operations within operating revenues – Luna Pool collaborative arrangements. The other Pool Participant’s share of pool net revenues generated by our vessels in the pool is presented on the face of our consolidated statements of operations within voyage
Vessels and Vessels Held for Sale	Vessels Vessels are stated at cost, which includes the cost of construction, capitalized interest and other direct costs attributable to construction. The cost of the vessels (excluding the estimated initial drydocking cost) less their estimated residual value is depreciated on a straight-line basis over the vessel’s estimated useful life. With effect from January 1, 2022, the estimated useful life of the Company’s vessels changed from 30 years to 25 years, from the date of its original construction.
Valuation of Vessels	Valuation of Vessels Our vessels and capitalized drydocking costs are reviewed for impairment when events or circumstances indicate the carrying amount of the vessel and capitalized drydocking costs may not be recoverable. When such indicators are present, a vessel and the capitalized drydocking costs are tested for recoverability, by comparing the future cash flows (undiscounted and excluding interest charges that will be recognized as an expense when incurred) expected to be generated by the vessel and the capitalized drydocking costs over their estimated remaining useful life to its carrying value. If we determine that a vessel’s undiscounted cash flows are less than its carrying value, we record an impairment loss equal to the amount by which its carrying amount exceeds its fair value. Fair value is determined using a discounted cashflow model. The new lower cost basis would result in lower annual depreciation than before the impairment. At December 31, 2023, the estimated useful lives of the vessels were unchanged at 25 years, and none of the vessels showed indications of impairment. Amongst other things, judgements regarding the impact of recent geopolitical and macroeconomic events, including the war in Ukraine and the conflict in the Gaza region, rates of inflation and interest, industry trends, and climate change initiatives which may impact economic useful life assumptions,were considered when determining whether indicators of impairment were present. This determination also involved the use of judgements and assumptions regarding expected future utilization rates.
Impairment of Equity Method Investments	Impairment of Equity Method Investments Equity method investments are reviewed for indicators of impairment when events or circumstances indicate the carrying amount of the investment may not be recoverable. When such indicators are present, we determine if the indicators are ‘other than temporary’ to determine if an impairment exists. If we determine that an impairment exists, a discounted cash flow analysis is carried out based on the future cash flows expected to be generated over the investment’s estimated remaining useful life. The resulting net present value is compared to the carrying value and we would recognize an impairment loss equal to the amount by which the carrying amount exceeds its fair value.
Drydocking Costs	Drydocking Costs Depending on the age of each vessel, it is required to be dry-docked approximately every two and a half year or five years for classification society surveys and inspections of, among other things, the underwater parts of the vessel. These works include, but are not limited to hull coatings, seawater valves, steelworks and piping works, propeller servicing and anchor chain winch calibrations, all of which cannot be performed while the vessels are operating. The Company capitalizes costs associated with the dry-dockings in accordance with ASC 360 – Property, Plant and Equipment, and depreciates these costs on a straight-line basis over the period to the next expected dry-docking. Depreciation of dry-docking costs is included in depreciation in the Consolidated Statements of Operations. Costs incurred during the dry-docking period which relate to routine repairs and maintenance are expensed. Where a vessel is newly acquired, or constructed, a proportion of the cost of the vessel is allocated to the components expected to be replaced at the next drydocking based on the expected costs relating to the next drydocking, which is based on experience and past history of similar vessels. Drydocking costs are included within operating activities on the cashflow statement.
Intangible Assets	Intangible Assets Intangible assets consist of software acquisition and associated costs of software modification to meet the Company’s internal needs. Intangible assets are amortized on a straight-line basis over the expected life of the software license, product or the expected duration that the software is estimated to contribute to the cash flows of the Company, estimated to be five years. Amortization of intangible assets is included in depreciation and amortization in the Consolidated Statements of Operations. Intangible assets are assessed for impairment when and if impairment indicators exist. An impairment loss is recognized if the carrying amount of an intangible asset is not recoverable and exceeds its fair value.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash The Company considers highly liquid investments, such as time deposits and certificates of deposit, with an original maturity of three months or less when purchased, to be cash equivalents. As of December 31, 2023, and 2022 and for the years then ended, the Company had balances in U.S. financial institutions in excess of the amounts insured by the Federal Deposit Insurance Corporation (“FDIC”). The Company also maintains cash balances in foreign financial institutions outside of the U.S. which are not covered by the FDIC.
Accounts Receivable, Net	Accounts Receivable, Net The Company carries its accounts receivable at cost less an allowance for expected credit losses. As of December 31, 2023 and December 31, 2022, the Company evaluated its accounts receivable and established an allowance for expected credit losses, based on a history of past write-offs, collections and current credit conditions. The Company also considers future and reasonable and supportable forecasts of future economic conditions in its allowance for expected credit losses. The Company does not generally charge interest on past-due accounts (unless the accounts are subject to legal action), and accounts are written off as uncollectible when all reasonable collection efforts have failed. Accounts are deemed past-due based on contractual terms.
Bunkers and Lubricant Oils	Bunkers and Lubricant Oils Bunkers and lubricant oils include bunkers (fuel), for those vessels under voyage charters. Under a time charter, the cost of bunkers is borne by and remains the property of the charterer. Bunkers and lubricant oils are accounted for on a first-in, first-out (“FIFO”) basis and are valued at cost.
Deferred Finance Costs	Deferred Finance Costs Costs incurred in connection with obtaining secured term loan facilities, revolving credit facilities and bonds are recorded as deferred financing costs and are amortized to interest expense over the estimated duration of the related debt. Such costs include fees paid to the lenders or on the lenders’ behalf and associated legal and other professional fees. Under the Accounting Standards Update (ASU) 2015- 03, Interest—Imputation of Interest the Company has adopted the accounting standard (Subtopic 835-30)—simplifying the presentation of debt issuance cost to present the unamortized debt issuance costs, excluding upfront commitment fees, as a direct reduction of the carrying value of the debt. Deferred financing costs related to undrawn debt are presented as assets on our consolidated balance sheet and amortized using the straight-line method. Following a loan refinancing assessed as a modification, any unamortized issuance costs related to the refinanced facility will continue to be amortized over the new term of the loan using the effective interest rate method.
Deferred Income	Deferred Income Deferred income is the balance of cash received in excess of revenue earned under voyage charter arrangements as of the balance sheet date. Deferred income also includes the unearned portion of time charter revenue invoices for which consideration has not
Accruals and Other Liabilities	Accruals and Other Liabilities Accrued expenses and other liabilities include all accrued liabilities relating to the operations of our vessels as well as any amounts accrued for general and administrative costs.
Revenue Recognition	Revenue Recognition The Company receives its revenue streams from three different sources; voyage or ‘spot’ charters, contracts of affreightment (“COA”), and time charters. Voyage charter and COA arrangements In the case of vessels contracted under voyage charters, the vessel is contracted for a voyage, or a series of voyages, between two or more ports and the Company is paid for the cargo transported. Revenue from COAs is recognized on the same basis as revenue from voyage charters, as they are essentially a series of consecutive voyage charters. Payment from voyage charters and COAs is due upon discharge of the cargo at the discharge port. We recognize revenue on a load port-to discharge port basis and determine percentage of completion for all voyage charters and COAs on a time elapsed basis. The Company believes that the performance obligation towards the customer starts to become satisfied once the cargo is loaded and the obligation becomes completely satisfied once the cargo has been discharged at the discharge port. Under this revenue recognition standard, the Company has identified certain costs incurred to fulfill a contract with a charterer, which are costs incurred following the commencement of a contract or charter party but before the loading of the cargo commences. These directly related costs are generally fuel or any canal or port costs incurred to get the vessel from its position at the inception of the contract to the load port to commence loading of the cargo. These costs are deferred and amortized over the duration of the performance obligation on a time basis. Voyage charters and COAs typically have an expected duration of one year or less. Time charter arrangements
Other Comprehensive Income/(Loss)	Other Comprehensive Income/(Loss) The Company follows the provisions of ASC 220 – Comprehensive Income, which requires separate presentation of certain transactions, which are recorded directly as components of stockholders’ equity. Comprehensive income is comprised of net income/(loss) and foreign currency translation gains and losses.
Voyage Expenses and Vessel Operating Expenses	Voyage Expenses and Vessel Operating Expenses When the Company employs its vessels on time charter, it is responsible for the operating expenses of the vessels, such as crew costs, stores, insurance, repairs and maintenance while the customer is responsible for substantially all of the voyage expenses. In the case of voyage charters, the vessel is contracted only for a voyage between two or more ports, and the Company pays for all voyage expenses in addition to the vessel operating expenses. Voyage expenses consist mainly of in-port expenses, canal fees and bunker (fuel) consumption and are recognized as incurred during the performance obligation (the period of time from load to discharge) of the vessel. The Company has identified certain voyage costs incurred to fulfill a contract with a charterer, which are
Repairs and Maintenance	Repairs and Maintenance All expenditures relating to routine maintenance and repairs are expensed when incurred.
Insurance	Insurance The Company maintains hull and machinery insurance, war risk insurance, protection and indemnity insurance, increased value insurance, demurrage and defense insurance in amounts considered prudent to cover normal risks in the ordinary course of its operations. Premiums paid in advance to insurance companies are recognized as prepaid expenses and recorded as a vessel operating expense over the period covered by the insurance contract. In addition, the Company maintains Directors and Officers insurance.
Share-Based Compensation	Share-Based Compensation The Company records as an expense in its financial statements the fair value of all equity-settled stock-based compensation awards. The terms and vesting schedules for share-based awards vary by type of grant. Generally, the awards vest subject to time-based (typically one
Use of Accounting Estimates	Use of Accounting Estimates We prepare our consolidated financial statements in accordance with U.S. GAAP, which requires us to make estimates in the application of our accounting policies based on our best assumptions, judgments and opinions. On a regular basis, management reviews the accounting policies, assumptions, estimates and judgments to ensure that our consolidated financial statements are presented fairly and in accordance with U.S. GAAP. However, because future events and their effects cannot be determined with certainty, actual results could differ from our assumptions and estimates, and such differences could be material.
Foreign Currency Transactions	Foreign Currency Transactions Substantially all of the Company’s cash receipts are in U.S. Dollars. The Company’s disbursements, however, are in the currency invoiced by the supplier. The Company remits funds in the various currencies invoiced. The non-U.S. Dollar invoices received, and their subsequent payments, are converted into U.S. Dollars when the transactions occur. The movement in exchange rates between these two dates is transferred to an exchange difference account and is expensed each month. The exchange risk resulting from these transactions is not considered to be material.
Derivative Instruments	Derivative Instruments Derivative instruments are initially recorded at fair value as either assets or liabilities in the accompanying balance sheet and subsequently remeasured to fair value at each reporting date, regardless of the purpose or intent for holding the derivative. The resulting derivative assets or liabilities are shown as a single line and are not netted off against one another on the face of the balance sheet. The method of recognizing the resulting gain or loss is dependent on whether the derivative contract qualifies for hedge accounting and has been designated as a hedging instrument. For derivative instruments that are not designated or that do not qualify as hedging instruments under ASC 815 – Derivatives and Hedging, the asset or liability is recognized as ‘Derivative assets’ or ‘Derivative liabilities’ on the balance sheet and changes in the fair value of the derivative financial instruments are recognized in earnings. Gains and losses from the Company’s non-designated interest rate swap agreements are recorded in unrealized (losses)/gains on non-designated derivative instruments in the Company’s consolidated statement of operations but do not impact our cash flows.
Income Taxes	Income Taxes Current taxation Navigator Holdings Ltd. and its Marshall Islands subsidiaries are currently not required to pay income taxes in the Marshall Islands on ordinary income or capital gains as they qualify as exempt companies. The Company has four wholly owned subsidiaries incorporated in the United Kingdom where the base tax rate is currently 25%. These subsidiaries provide services to affiliated entities within the group. The Company has a subsidiary in Poland where the base tax rate is currently 19%. The subsidiary earns management fees from fellow subsidiary companies. The Company has a subsidiary incorporated in Singapore where the base tax rate is currently 17%. The subsidiary earns management and other fees and receives interest from a VIE, PT Navigator Khatulistiwa. The VIE is subject to Indonesian freight tax on all of its gross shipping transportation revenue at a rate of 1.2%. The Company has a subsidiary in the United States of America where the base tax rate is currently 21%. The subsidiary owns a 50% interest in the Export Terminal Joint Venture, a pass through entity for U.S. tax purposes with the subsidiary liable for its share of the profits of the Ethylene Export Terminal. The Company has consolidated a VIE incorporated in Malta where the base tax rate is currently 35%. This VIE is the lessor entity for the sale and leaseback of Navigator Aurora and pay interest, management and other fees to its parent entity, Ocean Yield Malta (please read "Note 8. Variable Interest Entities to the consolidated financial statements)." The Company considered the income tax disclosure requirements of ASC 740 – Income Taxes, with regard to disclosing material unrecognized tax benefits; none were identified. The Company’s policy is to recognize accrued interest and penalties for unrecognized tax benefits as a component of tax expense. As of December 31, 2023, and 2022, there were no accrued interest and penalties for unrecognized tax benefits. Deferred taxation
Earnings Per Share	Earnings Per Share Basic earnings per common share (“Basic EPS”) is computed by dividing the net income/(loss) available to common stockholders by the weighted average number of shares outstanding in any period. Diluted earnings per common share (“Diluted EPS”) is computed by dividing the net income available to common stockholders by the weighted average number of common shares and dilutive common share equivalents then outstanding in any period.
Related parties	Related parties Parties are related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also related if they are subject to common control or significant influence.
Segment Reporting	Segment Reporting Management internally evaluates the performance of the enterprise as a whole and not on the basis of separate business units or different types of charters. As a result, the Company has determined that it operates as one reportable segment. Since the Company’s vessels regularly move between countries in international waters over many trade routes, it is impractical to assign revenues or earnings from the transportation of international LPG and petrochemical products by geographic area. Other than two vessels involved in cabotage trade within Indonesia for the years ended December 31, 2023 and 2022 (December 31, 2021: three vessels), our vessels operate on a worldwide basis and are not restricted to specific locations. As disclosed in Note 5. Operating Revenues to our consolidated financial statements, there are two different revenue streams due to the nature of the contracts that we operate. The Company considers that its equity method investments do not meet the criteria in ASC 280 to be separate reportable segments.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The following accounting standards issued as of December 31, 2023 may affect the future financial reporting by Navigator Holdings Ltd., however there are no other new accounting pronouncements that are expected to have a material impact on the financial reporting by the Company. In January 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-01, Reference Rate Reform (Topic 848)—Reference Rate Reform on Financial Reporting. The amendments in this update are elective and apply to all entities that have derivative instruments that use an F-21 interest rate for margining, discounting, or contract price alignment that is modified as a result of reference rate reform. The amendments also optionally apply to all entities that designate receive-variable-rate, pay-variable rate cross currency interest rate swaps as hedging instruments in investment hedges that are modified as a result of reference rate reform. This optional guidance may be applied upon issuance from any date beginning January 7, 2021, through December 31, 2022. Additionally in December 21, the FASB issued ASU 2022-06, which defers the sunset date of ASC 848, Reference Rate Reform, from December 31, 2022 to December 31, 2024. ASC 848 provides temporary relief relating to the potential accounting impact relating to the replacement of LIBOR or other reference rates expected to be discounted as a result of reference rate reform. ASU 2022-06 is effective immediately for all entities. As a result we have updated certain banking facilities to a new reference rate with no material effects on our consolidated financial position, results of operations, and cash flows. In August 2021, the Financial Accounting Standards Board (“FASB”) issued ASU 2021-08, Business Combination (Topic 805)—Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The ASU is effective from the fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. The amendments in this update primarily address the accounting for contract assets and contract liabilities from revenue contracts with customers in a business combination. However, the amendments also apply to contract assets and contract liabilities from other contracts to which the provisions of Topic 606 apply, such as contract liabilities from the sale of nonfinancial assets within the scope of Subtopic 610-20, Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets. Additionally in May 2023, the FASB issued ASU 2023-05 with updates to Joint Venture Formations (Subtopic 805-60)—Recognition and Initial Measurement. This ASU is effective prospectively from the fiscal years beginning after January 1, 2025. The amendments in this Update permit a joint venture to apply the measurement period guidance in Subtopic 805-10 if the initial accounting for a joint venture formation is incomplete by the end of the reporting period in which the formation occurs. No material impact on our consolidated financial position, results of operations, and cash flows as a result of future amendments are expected. In January 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-01, Leases (Topic 842)— Common Control Arrangements. The ASU is effective from fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. Topic 842 requires that entities determine whether a related party arrangement between entities under common control (hereinafter referred to as a common control arrangement) is a lease. If the arrangement is determined to be a lease, an entity must classify and account for the lease on the same basis as an arrangement with an unrelated party (on the basis of legally enforceable terms and conditions). That represents a change from the requirements of Topic 840, Leases, which required that an entity classify and account for an arrangement on the basis of economic substance when those terms and conditions were affected by the related party nature of the arrangement. No material impact on our consolidated financial position, results of operations, and cash flows as a result of future amendments are expected. In February 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-02, Investments Equity Method and Joint Ventures (Topic 323)—Accounting for Investments in Tax Credit Structures using the Proportional Amortization Method, introduced the option to apply the proportional amortization method to account for investments made primarily for the purpose of receiving income tax credits and other income tax benefits when certain requirements are met; however, the amendments in that Update limited the proportional amortization method to investments in low-income-housing tax credit ("LIHTC") structures. The proportional amortization method results in the cost of the investment being amortized in proportion to the income tax credits and other income tax benefits received, with the amortization of the investment and the income tax credits being presented net in the income statement as a component of income tax expense (benefit). Equity investments in other tax credit structures are typically accounted for using the equity method or Topic 321, Investments— Equity Securities, which results in investment income, gains and losses, and tax credits being presented gross on the income statement in their respective line items. The ASU is effective from the fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. No material impact on our consolidated financial position, results of operations, and cash flows as a result of future amendments are expected. In July 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, Segment Reporting (Topic 280)—Improvements to Reportable Segment Disclosures. The ASU is effective from fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The ASU should be adopted retrospectively unless it is impracticable to do so. Upon adoption, a public entity will adopt the ASU as of the beginning of the earliest period presented. However, the significant segment expense categories are based on those identified in the current period of adoption, regardless of how expenses may have been reported to the Chief Operating Decision Maker ("CODM") in the prior periods. Early adoption of the ASU is permitted, including in an interim period. If a public entity elects to early adopt the ASU in an interim period, the guidance should be applied as of the beginning of the fiscal year that includes the interim period. For example, if a calendar year-end public entity adopts this guidance in the fourth quarter of 2023, it will adopt the guidance as of January 1, 2023, with comparative information for 2021 and 2022.No material impact on our consolidated financial position, results of operations, and cash flows as a result of future amendments are expected. In September 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-09, Income Taxes (Topic 740)—Improvements to Income Tax Disclosures. Given the magnitude of changes to the tabular reconciliation as compared to the existing requirements, Public entities ("PBEs") will need to consider how they will adopt the standard. Whether it is applied prospectively or retrospectively, the adoption of the ASU will necessitate consideration of the reporting entity’s processes, systems, and controls around disclosures. The foreign tax effects category in particular expands significantly on existing disclosure for most reporting entities. For Public entities, ASU 2023-09 is effective for annual periods beginning after December 15, 2024. For non-Public entities, the ASU is effective for annual periods beginning after December 15, 2025. The guidance should be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. No material impact on our consolidated financial position, results of operations, and cash flows as a result of future amendments are expected.

Derivative Instruments Accoun_2

Derivative Instruments Accounted for at Fair Value (Tables)	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table includes the estimated fair value of those assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2023, and 2022. December 31, 2022 December 31, 2023 Fair Value Hierarchy Fair Value Hierarchy Level Fair Value Asset Fair Value Asset (in thousands) Interest rate swap agreements assets Level 2 $ 21,955 $ 14,674

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Not Accounted for at Fair Value	The following table includes the estimated fair value and carrying value of those assets and liabilities where the fair value does not approximate the carrying value. The table excludes cash, cash equivalents, and restricted cash, accounts receivable, accounts payable, accrued expenses, and other liabilities because the fair value approximates carrying value and, for accounts receivable and payable, are due in one year or less. December 31, 2022 December 31, 2023 Fair Value Hierarchy Level Fair Value Carrying Fair Value Carrying Fair Value (in thousands) 2020 Bonds ( see Note 10) Level 2 $ (100,000) $ (99,000) $ (91,000) $ (91,455) Secured term loan facilities and revolving credit facilities (see Note 9) Level 2 $ (762,047) $ (762,047) $ (810,497) $ (810,497)

Operating Revenues (Tables)

Operating Revenues (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table compares our operating revenues by the source of revenue stream for the years ended December 31, 2023, 2022 and 2021 : Year ended December 31, 2021 2022 2023 (in thousands) Operating revenues: Time charters $ 190,420 $ 245,645 $ 317,010 Voyage charters 162,502 159,701 176,329 Time charters from Luna Pool collaborative arrangements 1,283 — — Voyage charters from Luna Pool collaborative arrangements 25,272 22,101 7,355 Operating revenues from Unigas Pool 27,004 46,345 50,043 Total operating revenues $ 406,481 $ 473,792 $ 550,737
Schedules of Cash Flows for Committed Time Charter Revenues	The estimated undiscounted cash flows for committed time charter revenue expected to be received on an annual basis for ongoing time charters, as of each December 31, is as follows: (in thousands) 2024 $ 257,796 2025 $ 87,121 2026 $ 35,963 2027 $ 5,347

Vessels (Tables)

Vessels (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Vessels, net	Vessel Drydocking Total (in thousands) Cost January 1, 2022 $ 2,305,857 $ 55,578 $ 2,361,435 Vessel additions on acquisition 46,458 16,874 63,332 Disposals (25,838) (920) (26,758) Write-offs of fully amortized assets — (9,497) (9,497) December 31, 2022 2,326,477 62,035 2,388,512 Additions to vessels and equipment’s 191,727 — 191,727 Additions 233 14,718 14,951 Write-offs of fully amortized assets — (4,066) (4,066) Disposals (51,041) (2,749) (53,790) December 31, 2023 2,467,396 69,938 2,537,334 Accumulated Depreciation January 1, 2022 580,357 17,826 598,183 Charge for the period 107,905 18,041 125,946 Disposals (17,767) (847) (18,614) Write-offs of fully amortized assets — (9,497) (9,497) December 31, 2022 670,495 25,523 696,018 Charge for the period 110,424 18,601 129,025 Disposals (37,585) (440) (38,025) Write-offs of fully amortized assets — (4,066) (4,066) December 31, 2023 743,334 39,618 782,952 Net Book Value December 31, 2021 $ 1,725,500 $ 37,752 $ 1,763,252 December 31, 2022 $ 1,655,982 $ 36,512 $ 1,692,494 December 31, 2023 $ 1,724,062 $ 30,320 $ 1,754,382

Equity Method Investments (Tabl

Equity Method Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Participation in Investments that are Accounted for Using the Equity Method	As of December 31, 2023, and 2022, we had the following participation in investments that are accounted for using the equity method: December 31, 2022 December 31, 2023 Enterprise Navigator Ethylene Terminal L.L.C. (“Export Terminal Joint Venture”) 50 % 50 % Unigas International B.V. (“Unigas”) 33.3 % 33.3 % Dan Unity CO2 A/S ('Dan Unity') 50 % 50 % Luna Pool Agency Limited (“Pool Agency”) 50 % 50 % Azane Fuel Solutions AS ("Azane") — 14.5 % Bluestreak CO2 Limited ("Bluestreak") — 50 %
Schedule of Movement in Equity Method Investments	The table below represents movement in the Company’s equity method investments, as of December 31, 2023, 2022 and 2021: 2021 2022 2023 (in thousands) Equity method investments at January 1 $ 148,665 $ 150,209 $ 148,534 Equity contributions to joint venture entity 4,000 — 35,000 Equity method investments – additions 2,580 — 1,559 Share of results 11,147 25,794 20,607 Distributions received from equity method investments (16,183) (27,469) (30,790) Total equity method investments at December 31 $ 150,209 $ 148,534 $ 174,910
Schedule of Summarized Balance Sheet for Equity Method Investments	The summarized balance sheet data of the operating entity investments consists of the following: December 31, 2022 December 31, 2023 (in thousands) Current assets $ 33,834 $ 55,731 Non-current assets 264,507 304,646 Total Assets $ 298,341 $ 360,377 Current liabilities 13,246 25,793 Non-current liabilities 32 296 Total Liabilities $ 13,278 $ 26,089 Total Equity $ 285,063 $ 334,288
Schedule of Summarized Income Statement for Equity Method Investments	The summarized operating data of the operating entity investments was as follows: Year ended 2021 2022 2023 (in thousands) Total revenues $ 76,271 $ 118,386 $ 107,792 Operating Income 24,250 53,116 $ 41,454 Net income 24,034 53,357 $ 41,607 Net income attributable to the investees $ 11,816 $ 26,472 $ 20,671

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Assets and Liabilities of the Lessor VIE	The assets and liabilities of the Lessor VIE that most significantly impact the Company’s consolidated balance sheet and the financial statement line items in which they are presented, as of December 31, 2023 and 2022, are as follows: December 31, December 31, 2022 2023 (in thousands) Assets Cash, cash equivalents and restricted cash $ 108 $ 23 Prepaid expenses and other current assets 351 365 Total assets 459 388 Liabilities Accrued expenses and other liabilities (602) (702) Amounts due to related parties, current (544) (569) Amounts due to related parties, non-current (48,140) (41,266) Total liabilities $ (49,286) $ (42,537)

Secured Term Loan Facilities _2

Secured Term Loan Facilities and Revolving Credit Facilities (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Annual Principal Payments Under Term Loans and Revolving Credit Facilities	The table below represents the annual principal payments to be made under our term loans and revolving credit facilities after December 31, 2023 and 2022: December 31, 2022 December 31, 2023 (in thousands) Due within one year $ 212,382 $ 123,024 Due in two years 80,840 292,616 Due in three years 250,432 107,216 Due in four years 65,032 67,539 Due in five years 28,909 93,931 Due in more than five years* 124,452 126,171 Total secured term loans facilities and revolving credit facilities 762,047 810,497 Less: current portion 101,558 123,024 Secured term loan facilities and revolving credit facilities, non-current portion* $ 660,489 $ 687,473 * Includes amounts relating to the Navigator Aurora Facility held within a lessor entity (for which legal ownership resides with financial institutions) that we are required to consolidate under U.S. GAAP into our financial statements as a variable interest entity (See "Note 8. Variable Interest Entities to our consolidated financial statements")
Schedule of Secured Term Loan Facilities	The following table shows the breakdown of secured term loan facilities and total deferred financing costs split between current and non-current liabilities as of December 31, 2023, and 2022: December 31, 2022 December 31, 2023 (in thousands) Current Liability Current portion of secured term loan facilities and revolving credit facilities $ 101,558 $ 123,024 Less: current portion of deferred financing costs (2,549) (2,697) Current portion of secured term loan facilities, net of deferred financing costs 99,009 120,327 Non-Current Liability Secured term loan facilities and revolving credit facilities net of current portion, excluding amount due to related parties 612,349 646,131 Amount due to related parties* 48,140 41,342 Less: non-current portion of deferred financing costs (4,011) (4,156) Non-current secured term loan facilities and revolving credit facilities, net of current and non-current deferred financing costs $ 656,478 $ 683,317 * Amount due to related parties relates to the Navigator Aurora Facility held within a lessor entity (for which legal ownership resides with a financial institution) that we are required to consolidate under U.S. GAAP into our financial statements as a variable interest entity. The following table shows the breakdown of our senior unsecured bonds and total deferred financing costs as of December 31, 2023, and 2022: December 31, 2022 December 31, 2023 (in thousands) Senior Unsecured Bonds Total 2020 Bonds $ 100,000 $ 100,000 Less Treasury bonds — (9,000) Less deferred financing costs (1,057) (664) Total Bonds, net of deferred financing costs $ 98,943 $ 90,336

Senior Unsecured Bonds (Tables)

Senior Unsecured Bonds (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Senior Unsecured Bonds	The following table shows the breakdown of secured term loan facilities and total deferred financing costs split between current and non-current liabilities as of December 31, 2023, and 2022: December 31, 2022 December 31, 2023 (in thousands) Current Liability Current portion of secured term loan facilities and revolving credit facilities $ 101,558 $ 123,024 Less: current portion of deferred financing costs (2,549) (2,697) Current portion of secured term loan facilities, net of deferred financing costs 99,009 120,327 Non-Current Liability Secured term loan facilities and revolving credit facilities net of current portion, excluding amount due to related parties 612,349 646,131 Amount due to related parties* 48,140 41,342 Less: non-current portion of deferred financing costs (4,011) (4,156) Non-current secured term loan facilities and revolving credit facilities, net of current and non-current deferred financing costs $ 656,478 $ 683,317 * Amount due to related parties relates to the Navigator Aurora Facility held within a lessor entity (for which legal ownership resides with a financial institution) that we are required to consolidate under U.S. GAAP into our financial statements as a variable interest entity. The following table shows the breakdown of our senior unsecured bonds and total deferred financing costs as of December 31, 2023, and 2022: December 31, 2022 December 31, 2023 (in thousands) Senior Unsecured Bonds Total 2020 Bonds $ 100,000 $ 100,000 Less Treasury bonds — (9,000) Less deferred financing costs (1,057) (664) Total Bonds, net of deferred financing costs $ 98,943 $ 90,336

Earnings_(loss) per Share (Tabl

Earnings/(loss) per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Number of Weighted Average Outstanding Shares	The following table shows the calculation of both the basic and diluted number of weighted average outstanding shares for the years ended December 31, 2021, 2022 and 2023: December 31, 2021 December 31, 2022 December 31, 2023 (in thousands, except share data) Basic and diluted net income/(loss) available to common stockholders of Navigator Holdings Ltd $ (30,964) $ 53,473 $ 82,255 Basic weighted average number of shares 64,669,567 77,234,830 74,096,284 Effect of dilutive potential share options*: — 323,664 511,165 Diluted weighted average number of shares 64,669,567 77,558,494 74,607,449 * Due to a loss for the year ended December 31, 2021, no incremental shares are included because the effect would be anti-dilutive. The number of potentially dilutive shares excluded from the calculation for the year ended December 31, 2021 was 33,176.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Restricted Share Grant Activity	Restricted share grant activity for the year ended December 31, 2023, and 2022 was as follows: Number of granted Weighted Weighted Balance as of January 1, 2022 103,487 $ 9.92 1.06 years Granted 85,716 10.83 Vested (71,504) 10.64 Forfeited (2,006) 9.11 Balance as of December 31, 2022 115,693 $ 10.16 1.04 years Granted 47,829 12.45 Vested (78,144) 10.16 Balance as of December 31, 2023 85,378 $ 11.44 0.81 years
Schedule of Stock Option Activity	The movements in the existing share options during the years ended December 31, 2023, and 2022 were as follows: Options Number of options outstanding Weighted average exercise price per share Aggregate Balance as of January 1, 2022, 310,856 $ 21.37 $ — Issuances during the year 10,000 9.24 27,200 Balance as of December 31, 2022 320,856 20.99 — Issuance during the year 262,412 15.45 1,180,854 Forfeited during the year (35,875) 22.35 — Balance as of December 31, 2023 547,393 $ 18.25 $ 1,207,654

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Contractual Obligations	The contractual obligations schedule set forth below summarizes our contractual obligations as of December 31, 2023: 2024 2025 2026 2027 2028 Thereafter Total (in thousands) Secured term loan facilities and revolving credit facilities $ 123,024 $ 292,616 $ 107,216 $ 67,539 $ 93,931 $ 84,829 $ 769,155 Ethylene Export Terminal capital contributions(1) 94,931 — — — — — 94,931 2020 Bonds — 100,000 — — — — 100,000 Office operating leases(2) 1,027 1,279 1,066 1,274 — — 4,646 Navigator Aurora Facility(3) — — 41,342 — — — 41,342 Total contractual obligations $ 218,982 $ 393,895 $ 149,624 $ 68,813 $ 93,931 $ 84,829 $ 1,010,074 (1) We have committed to invest further in terminal infrastructure, such as expanding our existing Ethylene Export Terminal. The remaining capital contributions required from us to the Export Terminal Joint Venture for the Terminal Expansion Project are expected to be approximately $95 million. (2) The Company occupies office space in London with a new lease that commenced in January 2022 for a period of 10 years with a mutual break option in January 2027, which is the fifth anniversary from the lease commencement date. The annual gross rent under this lease is approximately $1.1 million, with an initial rent free period of 27 months, of which 13 months of the rent free period is repayable in the event that the break option is exercised. The lease term for our representative office in Gdynia, Poland was revised from January 2022 for an amended period to May 31, 2025. The gross rent per year is approximately $64,000. The Company occupies office space in Copenhagen with a lease commenced in September 2021, that expires in December 2025. The gross rent per year is approximately $180,000. The Company entered into a lease for office space in Houston that expires on March 31, 2025. The annual gross rent under this lease is approximately $60,000. The weighted average remaining contractual lease term for the above four office leases on December 31, 2023, was 3.88 years (December 31, 2022: 3.89 years). (3) The Navigator Aurora Facility is a loan facility held within a lessor entity (for which legal ownership resides with financial institutions) that we are required to consolidate under U.S. GAAP into our financial statements as a variable interest entity. Please read Note 8. Variable Interest Entities .

Operating Lease Liabilities (Ta

Operating Lease Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Maturity Analysis of The Undiscounted Cash Flows of Operating Lease Liabilities	A maturity analysis of the undiscounted cash flows of the Company’s operating lease liabilities as at December 31, 2022 and 2023 is presented in the following table: December 31, 2022 December 31, 2023 (in thousands) One year $ 924 $ 1,027 Two years 1,246 1,279 Three years 1,209 1,066 Four years 1,211 1,274 Total undiscounted operating lease commitments 4,590 4,646 Less: Discount adjustment (339) (232) Total operating lease liabilities 4,251 4,414 Less: current portion (219) (914) Total operating lease liabilities, non-current portion $ 4,032 $ 3,500

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax	Year Ended December 31, 2021 Year Ended December 31, 2022 Year Ended December 31, 2023 (in thousands) Income/(loss) before income taxes and share of results of equity method investments $ (38,394) $ 35,033 $ 70,590 Tax expense at statutory rate — — — Total statutory tax charge — — — Tax charge in U.S. subsidiaries 855 5,052 3,200 Tax charge in U.K. subsidiaries 566 386 803 Tax charge in Polish subsidiary 345 171 (18) Tax charge in Singapore subsidiary 47 — 6 Tax charge in Danish subsidiary 74 167 234 Tax charge in Maltese VIE ( See Note 8) 82 99 87 Withholding taxes — 74 13 Total tax charge $ 1,969 $ 5,949 $ 4,325 Breakdown of current/deferred tax expense Current tax expense $ 1,264 $ 2,107 $ 1,951 Deferred tax expense 705 3,842 2,374 Total corporate income tax $ 1,969 $ 5,949 $ 4,325
Summary of Deferred Tax Assets and Liabilities	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of December 31, 2023, and December 31, 2022, respectively are in the following table. December 31, 2022 December 31, 2023 (in thousands) Deferred tax asset Net operating losses carry forwards $ 17,029 $ 13,522 Other temporary differences 116 205 Total deferred tax assets 17,145 13,727 Less valuation allowance — — Deferred tax asset, net of valuation allowance $ 17,145 $ 13,727 Deferred tax liabilities Investment in joint venture $ 21,122 $ 20,002 Other temporary differences 273 741 Total deferred tax liabilities 21,395 20,743 Net deferred tax asset/(liability) $ (4,250) $ (7,016)

Cash, Cash Equivalents and Re_2

Cash, Cash Equivalents and Restricted Cash (Tables)	12 Months Ended
	Dec. 31, 2023
Cash and Cash Equivalents [Abstract]
Schedule of Cash, Cash Equivalents and Restricted Cash	The following table shows the breakdown of cash, cash equivalents and restricted cash as of December 31, 2023 and 2022: December 31, 2022 December 31, 2023 (in thousands) Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents $ 146,560 $ 149,581 Cash and cash equivalents held by VIE 108 23 Restricted cash 6,526 8,638 Total cash, cash equivalents and restricted cash $ 153,194 $ 158,242

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Schedule of Income (Expenses) With Related Parties	The following table summarizes our transactions with related parties for the years ended December 31, 2023, 2022 and 2021: Year ended December 31, 2021 Year ended December 31, 2022 Year ended December 31, 2023 (in thousands) Net income / (expenses) Luna Pool Agency Limited $ (30) $ (28) $ (42) Ocean Yield Malta Limited (1,202) (1,914) (3,221) Ultranav Business Support ApS (936) (1,115) (100) Naviera Ultranav Limitada (25) (15) (13) Norton Lilly International Inc — (131) — Total $ (2,193) $ (3,203) $ (3,376)
Schedule of Due From Related Parties	The following table sets out the balances due from related parties as at December 31, 2023 and 2022: December 31, 2022 December 31, 2023 (in thousands) Due from Related Parties Luna Pool Agency Limited $ 12,334 $ 30,804 Unigas Pool 4,009 2,598 Dan Unity 20 — Total $ 16,363 $ 33,402
Schedule of Due To Related Parties	The following table sets out the balances due to related parties as at December 31, 2023 and 2022: December 31, 2022 December 31, 2023 (in thousands) Due to Related Parties Ocean Yield Malta Limited $ 48,684 $ 41,912 Naviera Ultranav Limitada 51 — Ultranav Business Support ApS* — 36 Total $ 48,735 $ 41,948

Description of the Business (De

Description of the Business (Details) $ in Thousands, € in Millions			12 Months Ended
	Oct. 25, 2023 USD ($)	Oct. 25, 2023 EUR (€)	Dec. 31, 2023 USD ($) vessel MT m³	Dec. 31, 2022 USD ($) vessel	Dec. 31, 2021 USD ($)
Schedule Of Description Of Business [Line Items]
Number of vessels | vessel			56	44
Contributions to equity method investments | $			$ 36,558	$ 0	$ 4,000
Export Terminal Joint Venture [Member]
Schedule Of Description Of Business [Line Items]
Equity method investment, ownership percentage			50%	50%
Exporting capacity per year (in million tons) | MT			1
Azane [Member]
Schedule Of Description Of Business [Line Items]
Equity method investment, ownership percentage	14.50%	14.50%	14.50%	0%
Contributions to equity method investments	$ 3,000	€ 2.7
Ethylene [Member]
Schedule Of Description Of Business [Line Items]
Number of vessels | vessel			26
Minimum [Member]
Schedule Of Description Of Business [Line Items]
Vessels cargo capacity (in cbm) | m³			3,770
Maximum [Member]
Schedule Of Description Of Business [Line Items]
Vessels cargo capacity (in cbm) | m³			38,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) subsidiary member revenueSource segment vessel	Dec. 31, 2022 USD ($) vessel	Dec. 31, 2021 USD ($) vessel	Jan. 01, 2022
Summary Of Significant Accounting Policies [Line Items]
Cash flows from investing activities	$ (176,481)	$ 29,725	$ 33,057
Cash flows from financing activities	$ 6,810	(128,225)	(66,094)
Intangible assets useful life	5 years
Impairment of intangible assets	$ 0	0	$ 0
Restricted cash	$ 8,600	6,500
Number of revenue sources | revenueSource	3
Unrecognized tax benefits	$ 0	0
Accrued interest and penalties for unrecognized tax benefits	$ 0	$ 0
Number of reportable segments | segment	1
Number of different revenue sources | revenueSource	2
United Kingdom
Summary Of Significant Accounting Policies [Line Items]
Number of wholly owned subsidiaries | subsidiary	4
Indonesia
Summary Of Significant Accounting Policies [Line Items]
Number of vessels involved in cabotage trade | vessel	2	2	3
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Dry dock period	2 years 6 months
Share based compensation vesting period	1 year
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Dry dock period	5 years
Share based compensation vesting period	3 years
Maximum [Member] | Voyage Charters [Member]
Summary Of Significant Accounting Policies [Line Items]
Expected performance obligation duration	1 year
Vessels [Member]
Summary Of Significant Accounting Policies [Line Items]
Useful life of vessels	25 years		30 years	25 years
Collaborative Arrangement [Member]
Summary Of Significant Accounting Policies [Line Items]
Management expense fee	$ 100	$ 400	$ 400
Error Correction Increase (Decrease) [Member]
Summary Of Significant Accounting Policies [Line Items]
Cash flows from investing activities		(5,900)
Cash flows from financing activities		$ 5,900
Export Terminal Joint Venture [Member]
Summary Of Significant Accounting Policies [Line Items]
Equity method investment, ownership percentage	50%	50%
Pool Agency [Member]
Summary Of Significant Accounting Policies [Line Items]
Equity method investment, ownership percentage	50%	50%
Dan Unity [Member]
Summary Of Significant Accounting Policies [Line Items]
Equity method investment, ownership percentage	50%	50%
Unigas B. V. [Member]
Summary Of Significant Accounting Policies [Line Items]
Equity method investment, ownership percentage	33.30%	33.30%
Number of pool members | member	3

Derivative Instruments Accoun_3

Derivative Instruments Accounted for at Fair Value - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives designated as hedges held	$ 0	$ 0
Fair value of derivative asset	14,700	22,000
Unrealized gain / (loss) on non-designated derivative instruments	$ (7,282)	$ 25,124	$ 791
Interest Rate Swap [Member] | ING And SocGen [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional swaps percentage	80%
Derivative receivable interest reset period	3 months
Interest Rate Swap [Member] | ING Capital Markets LLC [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative interest rate	0.369%
Interest Rate Swap [Member] | Societe Generale [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative interest rate	0.3615%
Interest Rate Swap [Member] | Banco Santander Chile SA and Deutsche Bank AG London [Member] | Minimum [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative receivable interest reset period	3 months
Interest Rate Swap [Member] | Banco Santander Chile SA and Deutsche Bank AG London [Member] | Maximum [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative receivable interest reset period	6 months
Interest Rate Swap [Member] | Banco Santander Chile SA [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional swaps percentage	70%
Derivative interest rate	1.296%
Interest Rate Swap [Member] | Deutsche Bank AG London [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional swaps percentage	30%
Derivative interest rate	2.137%

Derivative Instruments Accoun_4

Derivative Instruments Accounted for at Fair Value - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap agreements assets	$ 14,700	$ 22,000
Interest Rate Swap [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap agreements assets	$ 14,674	$ 21,955

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
2020 Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount Asset (Liability) - Secured term loan facilities and revolving credit facilities	$ (100,000)
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount Asset (Liability) - Secured term loan facilities and revolving credit facilities	(810,497)	$ (762,047)
Fair Value Asset (Liability) - Secured term loan facilities and revolving credit facilities	(810,497)	(762,047)
Level 2 [Member] | 2020 Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount Asset (Liability) - Bonds	(91,000)	(100,000)
Fair Value Asset (Liability) - Bonds	$ (91,455)	$ (99,000)

Operating Revenues - Disaggrega

Operating Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Operating revenues	$ 493,339	$ 405,346	$ 352,922
Operating revenues from Luna Pool collaborative arrangements	7,355	22,101	26,555
Operating revenues from Unigas Pool	50,043	46,345	27,004
Total operating revenues	550,737	473,792	406,481
Time Charters [Member]
Disaggregation of Revenue [Line Items]
Operating revenues	317,010	245,645	190,420
Operating revenues from Luna Pool collaborative arrangements	0	0	1,283
Voyage Charters [Member]
Disaggregation of Revenue [Line Items]
Operating revenues	176,329	159,701	162,502
Operating revenues from Luna Pool collaborative arrangements	$ 7,355	$ 22,101	$ 25,272

Operating Revenues - Additional

Operating Revenues - Additional Information (Details) $ in Thousands	Dec. 31, 2023 USD ($) vessel	Dec. 31, 2022 USD ($) vessel	Dec. 31, 2021 USD ($)
Disaggregation of Revenue [Line Items]
Number of vessels | vessel	56	44
Number of operated vessels, excluding Unigas Pool | vessel	47
Number of vessels within Unigas Pool | vessel	9
Deferred income	$ 25,617	$ 23,108
Accounts receivable	$ 34,653	$ 18,245
Time Charters [Member]
Disaggregation of Revenue [Line Items]
Number of vessels | vessel	38	34
Accrued income	$ 1,000	$ 3,900
Deferred income	$ 25,600	$ 23,000
Time Charters, Expiring within One Year [Member]
Disaggregation of Revenue [Line Items]
Number of vessels | vessel	27	25
Time Charters, Expiring within Three Years [Member]
Disaggregation of Revenue [Line Items]
Number of vessels | vessel	5	5
Time Charters, Expiring from Three to Five Years [Member]
Disaggregation of Revenue [Line Items]
Number of vessels | vessel	6	4
Voyage Charters [Member]
Disaggregation of Revenue [Line Items]
Accrued income	$ 1,300	$ 8,600
Deferred income	0	0
Accounts receivable	18,300	5,100	$ 11,100
Costs incurred to fulfill a contract	$ 1,000	$ 2,800

Operating Revenues - Cash Flows

Operating Revenues - Cash Flows for Committed Time Charter Revenues (Details) - Time Charter $ in Thousands	Dec. 31, 2023 USD ($)
Concentration Risk [Line Items]
2024	$ 257,796
2025	87,121
2026	35,963
2027	$ 5,347

Vessels - Rollforward (Details)

Vessels - Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net Book Value
Vessels, net	$ 1,754,382	$ 1,692,494
Total [Member]
Cost
Beginning balance	2,388,512	2,361,435
Vessel additions on acquisition/ Additions to vessels and equipment’s	191,727	63,332
Additions	14,951
Disposals	(53,790)	(26,758)
Write-offs of fully amortized assets	(4,066)	(9,497)
Ending balance	2,537,334	2,388,512
Accumulated Depreciation
Beginning balance	696,018	598,183
Charge for the period	129,025	125,946
Disposals	(38,025)	(18,614)
Write-offs of fully amortized assets	(4,066)	(9,497)
Ending balance	782,952	696,018
Net Book Value
Vessels, net	1,754,382	1,692,494	$ 1,763,252
Vessel [Member]
Cost
Beginning balance	2,326,477	2,305,857
Vessel additions on acquisition/ Additions to vessels and equipment’s	191,727	46,458
Additions	233
Disposals	(51,041)	(25,838)
Write-offs of fully amortized assets	0	0
Ending balance	2,467,396	2,326,477
Accumulated Depreciation
Beginning balance	670,495	580,357
Charge for the period	110,424	107,905
Disposals	(37,585)	(17,767)
Write-offs of fully amortized assets	0	0
Ending balance	743,334	670,495
Net Book Value
Vessels, net	1,724,062	1,655,982	1,725,500
Drydocking [Member]
Cost
Beginning balance	62,035	55,578
Vessel additions on acquisition/ Additions to vessels and equipment’s	0	16,874
Additions	14,718
Disposals	(2,749)	(920)
Write-offs of fully amortized assets	(4,066)	(9,497)
Ending balance	69,938	62,035
Accumulated Depreciation
Beginning balance	25,523	17,826
Charge for the period	18,601	18,041
Disposals	(440)	(847)
Write-offs of fully amortized assets	(4,066)	(9,497)
Ending balance	39,618	25,523
Net Book Value
Vessels, net	$ 30,320	$ 36,512	$ 37,752

Vessels - Additional Informatio

Vessels - Additional Information (Details) $ in Thousands		12 Months Ended
	May 02, 2023 USD ($) m³	Dec. 31, 2023 USD ($) business vessel m³	Dec. 31, 2022 USD ($) vessel
Property, Plant and Equipment [Line Items]
Net book value of vessels		$ 1,754,382	$ 1,692,494
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Navigator Orion [Member]
Property, Plant and Equipment [Line Items]
Vessels cargo capacity (in cbm) | m³	22,085
Disposal of vessel	$ 20,700
2023 Vessel Acquisitions [Member]
Property, Plant and Equipment [Line Items]
Aggregate consideration		191,700
Drawdown on secured term loan		123,500
Equity contribution		27,300
Payments from available cash on hand		$ 40,900
2023 Vessel Acquisitions [Member] | 2018-Built Ethylene [Member]
Property, Plant and Equipment [Line Items]
Number of businesses acquired | business		1
Vessels cargo capacity (in cbm) | m³		17,000
2023 Vessel Acquisitions [Member] | 2019-Built Ethylene [Member]
Property, Plant and Equipment [Line Items]
Number of businesses acquired | business		3
Vessels cargo capacity (in cbm) | m³		22,000
Variable Interest Entity, Primary Beneficiary [Member]
Property, Plant and Equipment [Line Items]
Cost of vessels		$ 83,600	83,600
Net book value of vessels		62,600	66,100
Collateralized Loan Obligations [Member]
Property, Plant and Equipment [Line Items]
Net book value of vessels		$ 1,385,500	$ 1,420,900
Time Charter Agreements [Member]
Property, Plant and Equipment [Line Items]
Number of vessels contracted | vessel		38	34
Cost of vessels		$ 1,974,400	$ 1,776,000
Net book value of vessels		$ 1,323,800	$ 1,236,000

Equity Method Investments - Par

Equity Method Investments - Participation in Investments that are Accounted for Using the Equity Method (Details)	Dec. 31, 2023	Oct. 25, 2023	Dec. 31, 2022
Enterprise Navigator Ethylene Terminal L.L.C. (“Export Terminal Joint Venture”) [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50%		50%
Unigas International B.V. (“Unigas”) [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	33.30%		33.30%
Dan Unity CO2 A/S ('Dan Unity') [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50%		50%
Luna Pool Agency Limited (“Pool Agency”) [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50%		50%
Azane Fuel Solutions AS ("Azane") [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	14.50%	14.50%	0%
Bluestreak CO2 Limited ("Bluestreak") [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50%		0%

Equity Method Investments - Add

Equity Method Investments - Additional Information (Details) $ in Thousands	12 Months Ended			49 Months Ended
	Dec. 31, 2023 USD ($) bunkeringUnit	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 USD ($) bunkeringUnit	Dec. 31, 2023 GBP (£) bunkeringUnit	Oct. 25, 2023	Dec. 31, 2022 GBP (£)	Dec. 31, 2020 USD ($)
Schedule of Equity Method Investments [Line Items]
Equity method gains	$ 20,607	$ 25,794	$ 11,147
Equity method investments	$ 174,910	148,534	150,209	$ 174,910				$ 148,665
Yara Clean Ammonia [Member] | Azane [Member]
Schedule of Equity Method Investments [Line Items]
Number of ammonia bunkering units pre-ordered | bunkeringUnit	15			15	15
Export Terminal Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Equity method gains	$ 20,100	25,800
Equity contributions to joint venture				$ 181,500
Difference in the carrying amount and the underlying equity	5,200	5,800		$ 5,200
Costs amortized	$ 300	$ 300	$ 300
Equity method investment, ownership percentage	50%	50%		50%	50%		50%
Pool Agency [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investments | £					£ 1		£ 1
Equity method investment, ownership percentage	50%	50%		50%	50%		50%
Unigas B. V. [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	33.30%	33.30%		33.30%	33.30%		33.30%
Dan Unity [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50%	50%		50%	50%		50%
Azane [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	14.50%	0%		14.50%	14.50%	14.50%	0%
Bluestreak [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50%	0%		50%	50%		0%

Equity Method Investments - Mov

Equity Method Investments - Movement in Equity Method Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity Method Investments [Roll Forward]
Equity method investments at January 1	$ 148,534	$ 150,209	$ 148,665
Equity contributions to joint venture entity	35,000	0	4,000
Equity method investments – additions	1,559	0	2,580
Share of results of equity method investments	20,607	25,794	11,147
Distributions received from equity method investments	(30,790)	(27,469)	(16,183)
Total equity method investments at December 31	$ 174,910	$ 148,534	$ 150,209

Equity Method Investments - Sum

Equity Method Investments - Summarized Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Current assets	$ 255,372	$ 228,321
Non-current assets	1,947,313	1,868,417
Total assets	2,202,685	2,096,738
Current liabilities	185,442	159,623
Non-current liabilities	784,169	763,703
Total liabilities	969,611	923,326
Total Equity	1,233,074	1,173,412	$ 1,117,454	$ 942,395
Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Schedule of Equity Method Investments [Line Items]
Current assets	55,731	33,834
Non-current assets	304,646	264,507
Total assets	360,377	298,341
Current liabilities	25,793	13,246
Non-current liabilities	296	32
Total liabilities	26,089	13,278
Total Equity	$ 334,288	$ 285,063

Equity Method Investments - S_2

Equity Method Investments - Summarized Income Statement (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Operating revenue	$ 550,737	$ 473,792	$ 406,481
Operating Income	493,339	405,346	352,922
Net (loss)/income	86,872	54,878	(29,216)
Net income attributable to the investees	82,255	53,473	(30,964)
Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Schedule of Equity Method Investments [Line Items]
Operating revenue	107,792	118,386	76,271
Operating Income	41,454	53,116	24,250
Net (loss)/income	41,607	53,357	24,034
Net income attributable to the investees	$ 20,671	$ 26,472	$ 11,816

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Aug. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
VIE total assets		$ 2,202,685	$ 2,096,738
VIE total liabilities		969,611	923,326
Interest expense		64,898	50,840	$ 38,682
Net cash used in financing activities		(6,810)	128,225	$ 66,094
OCY Aurora Ltd
Variable Interest Entity [Line Items]
VIE total assets		49,000	54,000
VIE total liabilities		42,500	49,300
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
VIE total assets		179,800	184,300
VIE total liabilities		$ 61,400	68,800
Variable Interest Entity, Primary Beneficiary, PT Navigator Khatulistiwa [Member]
Variable Interest Entity [Line Items]
Variable interest entity, ownership percentage		49%
VIE total assets		$ 130,100	129,700
VIE total liabilities		18,300	19,400
Variable Interest Entity, Primary Beneficiary, OCY Aurora Ltd [Member]
Variable Interest Entity [Line Items]
VIE total assets		388	459
VIE total liabilities		$ 42,537	49,286
Operating lease term		13 years
Call option commencement, period post effective date of lease		5 years
Call option initial value		$ 44,800
Interest expense		3,200	1,900
Net cash used in financing activities		$ 6,800	$ 6,700
Variable Interest Entity, Primary Beneficiary, Navigator Crewing Philippines Inc. [Member]
Variable Interest Entity [Line Items]
Variable interest entity, ownership percentage	25%
Variable Interest Entity, Primary Beneficiary, Navigator Support Services Philippines Inc. [Member]
Variable Interest Entity [Line Items]
Variable interest entity, ownership percentage	40%

Variable Interest Entities - As

Variable Interest Entities - Assets and Liabilities of the Lessor VIE (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets
Cash, cash equivalents and restricted cash	$ 158,242	$ 153,194	$ 124,223	$ 59,271
Prepaid expenses and other current assets	17,068	21,152
Total assets	2,202,685	2,096,738
Liabilities
Accrued expenses and other liabilities	(20,847)	(24,708)
Amounts due to related parties, current	(606)	(595)
Amounts due to related parties, non-current	(41,342)	(48,140)
Total liabilities	(969,611)	(923,326)
Variable Interest Entity, Primary Beneficiary, OCY Aurora Ltd [Member]
Assets
Cash, cash equivalents and restricted cash	23	108
Prepaid expenses and other current assets	365	351
Total assets	388	459
Liabilities
Accrued expenses and other liabilities	(702)	(602)
Amounts due to related parties, current	(569)	(544)
Amounts due to related parties, non-current	(41,266)	(48,140)
Total liabilities	$ (42,537)	$ (49,286)

Secured Term Loan Facilities _3

Secured Term Loan Facilities and Revolving Credit Facilities - Annual Principal Payments to Term Loans and Revolving Credit Facilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Less: current portion	$ 123,024	$ 101,558
Secured term loan facilities and revolving credit facilities, non-current portion	687,473	660,489
Secured Term Loan Facilities and Revolving Credit Facility And Navigator Aurora Facility [Member]
Debt Instrument [Line Items]
Due within one year	123,024	212,382
Due in two years	292,616	80,840
Due in three years	107,216	250,432
Due in four years	67,539	65,032
Due in five years	93,931	28,909
Thereafter	126,171	124,452
Total	$ 810,497	$ 762,047

Secured Term Loan Facilities _4

Secured Term Loan Facilities and Revolving Credit Facilities - Additional Information (Details) $ in Thousands

1 Months Ended

12 Months Ended

13 Months Ended

Mar. 20, 2023 USD ($)

Dec. 15, 2022 USD ($) vessel

Dec. 07, 2022 USD ($)

Aug. 03, 2021 USD ($)

Sep. 17, 2020 USD ($)

Oct. 31, 2019 USD ($)

Mar. 25, 2019 USD ($)

Jun. 30, 2017 USD ($)

Oct. 28, 2016 USD ($)

Jul. 31, 2015 USD ($) vessel

Oct. 30, 2013 USD ($) vessel

Oct. 25, 2013 USD ($) vessel

Aug. 31, 2021 USD ($) facility

Dec. 31, 2023 USD ($) payment

Dec. 31, 2023 USD ($) payment

Dec. 31, 2022 USD ($)

Jun. 30, 2019

Mar. 31, 2019 USD ($)

Debt Instrument [Line Items]

Minimum amount of cash and cash equivalents as a percentage of net debt or total debt

5%

Number of debt facilities guaranteed | facility

4

October 2016 Secured Term Loan and Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

$ 220,000

Debt instrument term

7 years

June 2017 Secured Term Loan And Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

$ 160,800

Debt instrument term

6 years

June 2017 Secured Term Loan [Member]

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

$ 100,000

June 2017 Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

$ 60,800

March 2019 Secured Term Loan Facility [Member]

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

$ 107,000

Debt margin percentage

2.66%

Line of credit facility periodic payment

$ 2,300

Debt instrument term

6 years

Line of credit facility amount outstanding

$ 63,500

$ 63,500

Number of periodic payments | payment

8

8

Final payment amount

$ 54,400

$ 54,400

Minimum amount of cash and cash equivalents

$ 35,000

Minimum amount of cash and cash equivalents as a percentage of net debt or total debt

5%

Collateral requirements percentage

130%

September 2020 Secured Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

$ 210,000

Debt margin percentage

2.76%

Line of credit facility periodic payment

$ 7,400

Line of credit facility amount outstanding

158,200

158,200

Final payment amount

150,900

150,900

Minimum amount of cash and cash equivalents

$ 35,000

Collateral requirements percentage

125%

Minimum amount of cash and cash equivalents as a percentage of total debt

5%

Minimum ratio of stockholders' equity to total assets

30%

2019 Senior Secured Term Loan Facility [Member] | August 2021 Amendment and Restatement Agreement

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

$ 66,950

Line of credit facility periodic payment

2,900

Line of credit facility amount outstanding

40,800

40,800

Final payment amount

$ 26,200

26,200

Collateral requirements percentage

135%

Minimum ratio of stockholders' equity to total assets

30%

Cash and cash equivalents

$ 50,000

Percentage of senior secured loan owed

5%

December 2022 Secured Term Loan And Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

$ 111,800

Debt margin percentage

2.09%

Line of credit facility periodic payment

$ 3,100

Line of credit facility amount outstanding

72,300

72,300

Final payment amount

$ 39,700

39,700

Minimum amount of cash and cash equivalents

$ 50,000

Collateral requirements percentage

135%

Minimum amount of cash and cash equivalents as a percentage of total debt

5%

Minimum ratio of stockholders' equity to total assets

30%

Greater Bay JV Term Loan Facility [Member]

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

$ 151,300

Debt margin percentage

2.20%

Line of credit facility periodic payment

$ 2,700

Line of credit facility amount outstanding

$ 141,800

141,800

Minimum amount of cash and cash equivalents

$ 35,000

Collateral requirements percentage

125%

Minimum amount of cash and cash equivalents as a percentage of total debt

5%

Minimum ratio of stockholders' equity to total assets

30%

Number of vessels to be financed | vessel

5

Proceeds from issuance of long-term debt

151,300

Period for final payment

6 years

Number of assets securing facility | vessel

5

Greater Bay JV Term Loan Facility [Member] | Subsidiaries, Greater Bay JV Entities [Member]

Debt Instrument [Line Items]

Minimum amount of cash and cash equivalents

$ 3,000

Period from first drawdown for minimum amount of cash and cash equivalents

12 months

March 2023 Senior Secured Term Loan [Member]

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

$ 200,000

Debt margin percentage

2.10%

Debt instrument term

6 years

Line of credit facility amount outstanding

$ 175,000

175,000

Final payment amount

$ 8,300

Minimum amount of cash and cash equivalents

$ 50,000

Collateral requirements percentage

130%

Minimum amount of cash and cash equivalents as a percentage of total debt

5%

Minimum ratio of stockholders' equity to total assets

30%

Navigator Aurora Facility [Member]

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

$ 69,100

Debt margin percentage

2.01%

Debt instrument term

7 years

Unsecured debt

41,300

41,300

$ 48,100

Fair value amount in excess of debt secured

$ 39,900

$ 39,900

$ 28,900

Interest Rate Swap [Member] | ING Capital Markets LLC [Member]

Debt Instrument [Line Items]

Derivative interest rate

0.369%

0.369%

Interest Rate Swap [Member] | Societe Generale [Member]

Debt Instrument [Line Items]

Derivative interest rate

0.3615%

0.3615%

Minimum [Member] | 2019 Senior Secured Term Loan Facility [Member] | August 2021 Amendment and Restatement Agreement

Debt Instrument [Line Items]

Interest rate

3.77%

Minimum [Member] | Greater Bay JV Term Loan Facility [Member]

Debt Instrument [Line Items]

Final payment amount

$ 15,000

$ 15,000

Maximum [Member] | 2019 Senior Secured Term Loan Facility [Member] | August 2021 Amendment and Restatement Agreement

Debt Instrument [Line Items]

Interest rate

3.78%

Maximum [Member] | Greater Bay JV Term Loan Facility [Member]

Debt Instrument [Line Items]

Final payment amount

18,200

18,200

Ethylene Marine Export Terminal [Member]

Debt Instrument [Line Items]

Receipt of indemnity payments threshold for mandatory required prepayments

$ 500

$ 500

Terminal Facility [Member]

Debt Instrument [Line Items]

Minimum debt service coverage ratio

1.10

Minimum debt service coverage ratio required to pay dividends

1.20

Terminal Facility [Member] | Interest Rate Swap [Member]

Debt Instrument [Line Items]

Percentage of outstanding loan amount hedged

80%

80%

Terminal Facility [Member] | Interest Rate Swap [Member] | ING Capital Markets LLC [Member]

Debt Instrument [Line Items]

Percentage of loan amount hedged per counterparty

50%

50%

Derivative interest rate

0.369%

0.369%

Terminal Facility [Member] | Interest Rate Swap [Member] | Societe Generale [Member]

Debt Instrument [Line Items]

Percentage of loan amount hedged per counterparty

50%

50%

Derivative interest rate

0.362%

0.362%

Terminal Facility [Member] | Minimum [Member]

Debt Instrument [Line Items]

Debt margin percentage

2.75%

Interest periods

3 months

Line of credit facility periodic payment

$ 3,400

Terminal Facility [Member] | Maximum [Member]

Debt Instrument [Line Items]

Debt margin percentage

3%

Interest periods

6 months

Line of credit facility periodic payment

$ 3,800

Terminal Facility [Member] | Ethylene Marine Export Terminal [Member] | ING Capital LLC And SG America Securities [Member]

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

$ 75,000

DB Credit Facility A [Member]

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

$ 57,700

Debt margin percentage

2.47%

Line of credit facility periodic payment

$ 1,200

Debt instrument term

12 years

Line of credit facility amount outstanding

15,600

$ 15,600

Collateral requirements percentage

125%

Minimum ratio of stockholders' equity to total assets

30%

Cash and cash equivalents

$ 50,000

Percentage of senior secured loan owed

5%

Number of vessels to be financed | vessel

2

Santander Credit Facility A [Member]

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

$ 81,000

Debt margin percentage

2.47%

Debt instrument term

12 years

Line of credit facility amount outstanding

23,600

23,600

Collateral requirements percentage

125%

Minimum ratio of stockholders' equity to total assets

30%

Cash and cash equivalents

$ 50,000

Percentage of senior secured loan owed

5%

Number of vessels to be financed | vessel

3

Santander Credit Facility A [Member] | Minimum [Member]

Debt Instrument [Line Items]

Line of credit facility periodic payment

$ 1,000

Santander Credit Facility A [Member] | Maximum [Member]

Debt Instrument [Line Items]

Line of credit facility periodic payment

$ 1,200

Santander Credit Facility B [Member]

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

$ 55,800

Debt margin percentage

2.47%

Debt instrument term

12 years

Line of credit facility amount outstanding

25,600

25,600

Collateral requirements percentage

125%

Minimum ratio of stockholders' equity to total assets

30%

Cash and cash equivalents

$ 50,000

Percentage of senior secured loan owed

5%

Number of vessels to be financed | vessel

2

Santander Credit Facility B, Tranche One [Member]

Debt Instrument [Line Items]

Line of credit facility periodic payment

$ 1,100

Santander Credit Facility B, Tranche Two [Member]

Debt Instrument [Line Items]

Line of credit facility periodic payment

1,300

DB Credit Facility B [Member]

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

$ 60,900

Debt margin percentage

2.47%

Line of credit facility periodic payment

$ 1,300

Debt instrument term

12 years

Line of credit facility amount outstanding

$ 26,600

$ 26,600

Collateral requirements percentage

125%

Minimum ratio of stockholders' equity to total assets

30%

Cash and cash equivalents

$ 50,000

Percentage of senior secured loan owed

5%

Number of vessels to be financed | vessel

2

Secured Term Loan Facilities _5

Secured Term Loan Facilities and Revolving Credit Facilities - Secured Term Loan Facilities and Deferred Financing Costs Split Between Current and Non-Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current Liability
Current portion of secured term loan facilities and revolving credit facilities	$ 123,024	$ 101,558
Less: current portion of deferred financing costs	(2,697)	(2,549)
Current portion of secured term loan facilities, net of deferred financing costs	120,327	99,009
Non-Current Liability
Secured term loan facilities and revolving credit facilities, non-current portion	687,473	660,489
Less: non-current portion of deferred financing costs	(4,156)	(4,011)
Non-current secured term loan facilities and revolving credit facilities, net of current and non-current deferred financing costs	683,317	656,478
Nonrelated Party [Member]
Non-Current Liability
Secured term loan facilities and revolving credit facilities, non-current portion	646,131	612,349
Related Party [Member]
Non-Current Liability
Secured term loan facilities and revolving credit facilities, non-current portion	$ 41,342	$ 48,140

Senior Unsecured Bonds - Additi

Senior Unsecured Bonds - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended
	Sep. 30, 2020	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Gain loss on extinguishment of debt	$ 500
Unamortized deferred costs	2,000
2020 Senior Unsecured Bonds [Member]
Debt Instrument [Line Items]
Aggregate principal amount	$ 100,000
Interest rate	8%
Minimum liquidity required to declare or pay dividends	$ 60,000
Bonds repurchased		$ (9,000)	$ (9,000)	$ 0
2020 Senior Unsecured Bonds [Member] | Minimum [Member]
Debt Instrument [Line Items]
Cash and cash equivalents	$ 35,000
2020 Senior Unsecured Bonds [Member] | Maximum [Member]
Debt Instrument [Line Items]
Gross equity ratio	30%
2020 Senior Unsecured Bonds [Member] | Up to September 9, 2023 [Member]
Debt Instrument [Line Items]
Debt instrument redemption price margin percent	0.50%
Debt instrument redeemable percentage	103.20%
2020 Senior Unsecured Bonds [Member] | September 10, 2023 until September 9, 2024 [Member]
Debt Instrument [Line Items]
Debt instrument redeemable percentage	103.20%
2020 Senior Unsecured Bonds [Member] | September 10 , 2024 until March 9 ,2025 [Member]
Debt Instrument [Line Items]
Debt instrument redeemable percentage	101.60%
2020 Senior Unsecured Bonds [Member] | March 10, 2025 to maturity [Member]
Debt Instrument [Line Items]
Debt instrument redeemable percentage	100%

Senior Unsecured Bonds - Summar

Senior Unsecured Bonds - Summary of Senior Unsecured Bonds (Details) - 2020 Senior Unsecured Bonds [Member] - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total 2020 Bonds	$ 100,000		$ 100,000
Less Treasury bonds	(9,000)	$ (9,000)	0
Less deferred financing costs	(664)		(1,057)
Total	$ 90,336		$ 98,943

Earnings_(loss) per Share (Deta

Earnings/(loss) per Share (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Basic and diluted net income/(loss) available to common stockholders of Navigator Holdings Ltd	$ 82,255	$ 53,473	$ (30,964)
Basic weighted average number of shares (in shares)	74,096,284	77,234,830	64,669,567
Effect of dilutive potential share options (in shares)	511,165	323,664	0
Diluted (in shares)	74,607,449	77,558,494	64,669,567
Potential dilutive shares excluded computation of earnings per share (in shares)			33,176

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($)

12 Months Ended

Dec. 31, 2023

Jul. 17, 2023

Jun. 30, 2023

Mar. 19, 2023

Mar. 17, 2023

Mar. 15, 2023

Aug. 08, 2022

Apr. 04, 2022

Mar. 17, 2022

Jul. 09, 2021

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based compensation costs related to share grants

$ 819,919

$ 799,902

$ 1,373,292

Options exercisable (in shares)

547,393

547,393

Weighted average exercise price of share options exercisable (in dollars per share)

$ 18.25

$ 18.25

Weighted-average remaining contractual term of options outstanding

2 years 11 months 26 days

Share-based compensation costs

$ 422,936

$ 14,240

$ 0

Options vested but not exercised (in shares)

274,981

Minimum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period

1 year

Expected term

4 years

Maximum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period

3 years

Expected term

6 years 6 months

Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Awards granted (in shares)

47,829

85,716

Weighted average grant date fair value of awards granted (in dollars per share)

$ 12.45

$ 10.83

Awards vested (in shares)

78,144

71,504

Weighted average grant date fair value of awards vested (in dollars per share)

$ 10.16

$ 10.64

Total compensation cost not yet recognized

$ 400,282

$ 400,282

$ 619,869

Total compensation cost not yet recognized period for recognition

9 months 21 days

1 year 14 days

Employee Stock Option [Member] | Minimum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period

3 years

Employee Stock Option [Member] | Maximum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period

10 years

Employee Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period

3 years

Share-based compensation costs

$ 41,588

$ 38,220

Discount percentage to share price

15%

15%

15%

Shares issued (in shares)

0

Long Term Incentive Plan Two Thousand Thirteen [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Maximum number of shares authorized for grant (in shares)

3,000,000

3,000,000

Total compensation cost not yet recognized

$ 1,142,618

$ 1,142,618

Long Term Incentive Plan Two Thousand Thirteen [Member] | Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Awards vested (in shares)

47,829

Weighted average grant date fair value of awards vested (in dollars per share)

$ 12.45

2023 Restricted Stock Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Maximum number of shares authorized for grant (in shares)

3,000,000

3,000,000

Non Employee Director [Member] | Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period

1 year

1 year

Non Employee Director [Member] | Long Term Incentive Plan Two Thousand Thirteen [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Awards vested (in shares)

4,494

45,864

Weighted average grant date fair value of awards vested (in dollars per share)

$ 12.45

$ 10.65

Fair value of shares vested

$ 65,388

$ 553,120

Non Employee Director [Member] | Long Term Incentive Plan Two Thousand Thirteen [Member] | March 2021 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Awards vested (in shares)

29,295

Weighted average grant date fair value of awards vested (in dollars per share)

$ 10.26

Fair value of shares vested

$ 311,698

Non Employee Director [Member] | Long Term Incentive Plan Two Thousand Thirteen [Member] | 2022 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Awards vested (in shares)

11,538

Weighted average grant date fair value of awards vested (in dollars per share)

$ 10.40

Fair value of shares vested

$ 119,995

Non Employee Director [Member] | Long Term Incentive Plan Two Thousand Thirteen [Member] | Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Awards granted (in shares)

36,327

57,402

Weighted average grant date fair value of awards granted (in dollars per share)

$ 10.40

Officers and Employees [Member] | Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period

3 years

3 years

3 years

Officers and Employees [Member] | Long Term Incentive Plan Two Thousand Thirteen [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Awards vested (in shares)

12,159

Weighted average grant date fair value of awards vested (in dollars per share)

$ 7.90

Fair value of shares vested

$ 157,581

Officers and Employees [Member] | Long Term Incentive Plan Two Thousand Thirteen [Member] | 2019 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Awards vested (in shares)

28,497

Weighted average grant date fair value of awards vested (in dollars per share)

$ 11.06

Fair value of shares vested

$ 274,240

Officers and Employees [Member] | Long Term Incentive Plan Two Thousand Thirteen [Member] | 2021 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Awards vested (in shares)

2,174

Weighted average grant date fair value of awards vested (in dollars per share)

$ 10.26

Fair value of shares vested

$ 15,000

Officers and Employees [Member] | Long Term Incentive Plan Two Thousand Thirteen [Member] | Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Awards granted (in shares)

11,502

10,000

18,314

Weighted average grant date fair value of awards granted (in dollars per share)

$ 12.17

$ 10.40

Officer [Member] | Long Term Incentive Plan Two Thousand Thirteen [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Awards vested (in shares)

15,627

Weighted average grant date fair value of awards vested (in dollars per share)

$ 9.84

Fair value of shares vested

$ 203,307

Share-Based Compensation - Rest

Share-Based Compensation - Restricted Share Grant Activity (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Number of granted non-vested restricted shares
Unvested, beginning balance (in shares)	115,693	103,487
Granted (in shares)	47,829	85,716
Vested (in shares)	(78,144)	(71,504)
Forfeited (in shares)		(2,006)
Unvested, ending balance (in shares)	85,378	115,693	103,487
Weighted average grant date fair value
Unvested, beginning balance (in dollars per share)	$ 10.16	$ 9.92
Granted (in dollars per share)	12.45	10.83
Vested (in dollars per share)	10.16	10.64
Forfeited (in dollars per share)		9.11
Unvested, ending balance (in dollars per share)	$ 11.44	$ 10.16	$ 9.92
Weighted average remaining contractual term
Weighted-average remaining contractual terms (Years)	9 months 21 days	1 year 14 days	1 year 21 days

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Option Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Number of options outstanding
Beginning Balance (in shares)	320,856	310,856
Issuances during the year (in shares)	262,412	10,000
Forfeited during the year (in shares)	(35,875)
Ending Balance (in shares)	547,393	320,856
Weighted average exercise price per share
Beginning Balance (in dollars per share)	$ 20.99	$ 21.37
Issuances during the year (in dollars per share)	15.45	9.24
Forfeited during the year (in dollars per share)	22.35
Ending Balance (in dollars per share)	$ 18.25	$ 20.99
Aggregate intrinsic value
Issuances during the year	$ 1,180,854	$ 27,200
Outstanding options	$ 1,207,654

Commitments and Contingencies -

Commitments and Contingencies - Contractual Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Ethylene Export Terminal capital contributions
2024	$ 94,931
2025	0
2026	0
2027	0
2028	0
Thereafter	0
Total	94,931
Office operating leases
2024	1,027	$ 924
2025	1,279	1,246
2026	1,066	1,209
2027	1,274	1,211
2028	0
Thereafter	0
Total	4,646	$ 4,590
Total contractual obligations
2024	218,982
2025	393,895
2026	149,624
2027	68,813
2028	93,931
Thereafter	84,829
Total	1,010,074
Secured Term Loan Facilities And Revolving Credit Facility [Member]
Long-term debt
2024	123,024
2025	292,616
2026	107,216
2027	67,539
2028	93,931
Thereafter	84,829
Total	769,155
2020 Bonds [Member]
Long-term debt
2024	0
2025	100,000
2026	0
2027	0
2028	0
Thereafter	0
Total	100,000
Navigator Aurora Facility [Member]
Long-term debt
2024	0
2025	0
2026	41,342
2027	0
2028	0
Thereafter	0
Total	$ 41,342

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) contract	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Export Terminal Joint Venture remaining capital contributions	$ 94,931
Weighted average remaining contractual lease term	3 years 2 months 1 day	3 years 10 months 17 days
Number of operating leases contracts | contract	3
Office Space [Member]
Lessee, Lease, Description [Line Items]
Weighted average remaining contractual lease term	3 years 10 months 17 days	3 years 10 months 20 days
Number of operating leases contracts | contract	4
London [Member]
Lessee, Lease, Description [Line Items]
Operating lease term	10 years
Operating lease term, mutual break clause	5 years
Operating lease annual gross rent	$ 1,100
Operating lease initial rent free period	27 months
Operating lease rent free period repayable based on break option exercised	13 months
Poland
Lessee, Lease, Description [Line Items]
Operating lease annual gross rent	$ 64
Copenhagen [Member]
Lessee, Lease, Description [Line Items]
Operating lease annual gross rent	180
Texas
Lessee, Lease, Description [Line Items]
Operating lease annual gross rent	$ 60

Operating Lease Liabilities - A

Operating Lease Liabilities - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) contract	Dec. 31, 2022 USD ($)
Leases [Abstract]
Operating lease liabilities	$ 4,414	$ 4,251
Operating lease right-of-use assets	2,873	3,625
Operating lease, cost	$ 1,200	$ 1,200
Number of operating leases contracts | contract	3
Operating lease weighted average discount rate	2.95%	2.87%
Weighted average remaining contractual lease term	3 years 2 months 1 day	3 years 10 months 17 days

Operating Lease Liabilities - M

Operating Lease Liabilities - Maturity Analysis of the Undiscounted Cash Flows of The Company's Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
One year	$ 1,027	$ 924
Two years	1,279	1,246
Three years	1,066	1,209
Four years	1,274	1,211
Total	4,646	4,590
Less: Discount adjustment	(232)	(339)
Total operating lease liabilities	4,414	4,251
Less: current portion	(914)	(219)
Total operating lease liabilities, non-current portion	$ 3,500	$ 4,032

Concentration of Credit Risks (

Concentration of Credit Risks (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Concentration Risk [Line Items]
Operating revenue	$ 550,737	$ 473,792	$ 406,481
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | One Charterer
Concentration Risk [Line Items]
Concentration risk percentage	10.10%
Operating revenue	$ 49,700
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Top Three Charterers [Member]
Concentration Risk [Line Items]
Concentration risk percentage	25%	26.50%
Operating revenue	$ 122,600	$ 108,400
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Minimum [Member] | Top Charterer One [Member]
Concentration Risk [Line Items]
Concentration risk percentage	7%	8%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Minimum [Member] | Top Charterer Two [Member]
Concentration Risk [Line Items]
Concentration risk percentage	7%	8%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Minimum [Member] | Top Charterer Three [Member]
Concentration Risk [Line Items]
Concentration risk percentage	7%	8%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Maximum [Member] | Top Charterer One [Member]
Concentration Risk [Line Items]
Concentration risk percentage	10%	10%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Maximum [Member] | Top Charterer Two [Member]
Concentration Risk [Line Items]
Concentration risk percentage	10%	10%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Maximum [Member] | Top Charterer Three [Member]
Concentration Risk [Line Items]
Concentration risk percentage	10%	10%
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | Indonesia
Concentration Risk [Line Items]
Concentration risk percentage	3%	3.70%	5.60%

Income Taxes - Income Tax Compo

Income Taxes - Income Tax Components (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax [Line Items]
Income/(loss) before income taxes and share of results of equity method investments	$ 70,590	$ 35,033	$ (38,394)
Total statutory tax charge	0	0	0
Withholding taxes	13	74	0
Total corporate income tax	4,325	5,949	1,969
Breakdown of current/deferred tax expense
Current tax expense	1,951	2,107	1,264
Deferred tax expense	2,374	3,842	705
Total corporate income tax	4,325	5,949	1,969
U.S.
Income Tax [Line Items]
Tax charge in foreign jurisdictions	3,200	5,052	855
UK
Income Tax [Line Items]
Tax charge in foreign jurisdictions	803	386	566
Poland
Income Tax [Line Items]
Tax charge in foreign jurisdictions	(18)	171	345
Singapore
Income Tax [Line Items]
Tax charge in foreign jurisdictions	6	0	47
Denmark
Income Tax [Line Items]
Tax charge in foreign jurisdictions	234	167	74
Malta
Income Tax [Line Items]
Tax charge in foreign jurisdictions	$ 87	$ 99	$ 82

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax [Line Items]
Deferred tax liabilities	$ 7,016	$ 4,250
Deferred tax asset	13,727	17,145
Deferred tax asset, carryforward losses	13,522	$ 17,029
Export Terminal Joint Venture [Member]
Income Tax [Line Items]
Deferred tax asset, carryforward losses	$ 13,500
Percentage of carry forwards utilized against future profits	80%

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax asset
Net operating losses carry forwards	$ 13,522	$ 17,029
Other temporary differences	205	116
Total deferred tax assets	13,727	17,145
Less valuation allowance	0	0
Deferred tax asset, net of valuation allowance	13,727	17,145
Deferred tax liabilities
Investment in joint venture	20,002	21,122
Other temporary differences	741	273
Total deferred tax liabilities	20,743	21,395
Net deferred tax asset/(liability)	$ (7,016)	$ (4,250)

Cash, Cash Equivalents and Re_3

Cash, Cash Equivalents and Restricted Cash - Breakdown of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Line Items]
Restricted cash	$ 8,638	$ 6,526
Total cash, cash equivalents and restricted cash	158,242	153,194	$ 124,223	$ 59,271
Consolidated Entity, Excluding Consolidated VIE [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	149,581	146,560
Variable Interest Entity, Primary Beneficiary [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 23	$ 108

Cash, Cash Equivalents and Re_4

Cash, Cash Equivalents and Restricted Cash - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Line Items]
Minimum amount of cash and cash equivalents as a percentage of net debt or total debt	5%
Variable Interest Entity, Primary Beneficiary [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 23	$ 108
Criteria One [Member]
Cash and Cash Equivalents [Line Items]
Minimum amount of cash and cash equivalents	25,000
Criteria Two [Member]
Cash and Cash Equivalents [Line Items]
Minimum amount of cash and cash equivalents	35,000
Criteria Three [Member]
Cash and Cash Equivalents [Line Items]
Minimum amount of cash and cash equivalents	50,000
Criteria Four [Member]
Cash and Cash Equivalents [Line Items]
Liquidity to be maintained as part of debt covenant	$ 45,100

Related Party Transactions - In

Related Party Transactions - Income (Expenses) With Related Parties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Net income / (expenses)	$ (3,376)	$ (3,203)	$ (2,193)
Luna Pool Agency Limited (“Pool Agency”) [Member]
Related Party Transaction [Line Items]
Net income / (expenses)	(42)	(28)	(30)
Ocean Yield Malta Limited [Member]
Related Party Transaction [Line Items]
Net income / (expenses)	(3,221)	(1,914)	(1,202)
Ultranav Business Support ApS [Member]
Related Party Transaction [Line Items]
Net income / (expenses)	(100)	(1,115)	(936)
Naviera Ultranav Limitada [Member]
Related Party Transaction [Line Items]
Net income / (expenses)	(13)	(15)	(25)
Norton Lilly International Inc [Member]
Related Party Transaction [Line Items]
Net income / (expenses)	$ 0	$ (131)	$ 0

Related Party Transactions - Du

Related Party Transactions - Due From Related Parties (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Due from Related Parties	$ 33,402	$ 16,363
Related Party [Member]
Related Party Transaction [Line Items]
Due from Related Parties	33,402	16,363
Luna Pool Agency Limited (“Pool Agency”) [Member] | Related Party [Member]
Related Party Transaction [Line Items]
Due from Related Parties	30,804	12,334
Unigas Pool [Member] | Related Party [Member]
Related Party Transaction [Line Items]
Due from Related Parties	2,598	4,009
Dan Unity [Member] | Related Party [Member]
Related Party Transaction [Line Items]
Due from Related Parties	$ 0	$ 20

Related Party Transactions - _2

Related Party Transactions - Due To Related Parties (Details) - Related Party [Member] - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Due to Related Parties	$ 41,948	$ 48,735
Ocean Yield Malta Limited [Member]
Related Party Transaction [Line Items]
Due to Related Parties	41,912	48,684
Naviera Ultranav Limitada [Member]
Related Party Transaction [Line Items]
Due to Related Parties	0	51
Ultranav Business Support ApS [Member]
Related Party Transaction [Line Items]
Due to Related Parties	$ 36	$ 0

Stockholders' Equity (Details)

Stockholders' Equity (Details)	12 Months Ended
	Dec. 31, 2023 vote $ / shares shares	Dec. 31, 2022 $ / shares shares	Dec. 31, 2021 $ / shares	Dec. 31, 2020 $ / shares
Equity [Abstract]
Common stock, authorized (in shares)	400,000,000	400,000,000
Preferred Stock, authorized (in shares)	40,000,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.01
Common stock, shares issued (in shares)	73,208,586	76,804,474
Common stock, shares outstanding (in shares)	73,208,586	76,804,474
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, voting rights, number of votes per share | vote	1

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended
	Mar. 12, 2024	Mar. 27, 2024	Dec. 31, 2023	Dec. 31, 2022
Subsequent Event [Line Items]
Common stock, shares outstanding (in shares)			73,208,586	76,804,474
Subsequent Event [Member]
Subsequent Event [Line Items]
Cash dividend declared (in dollars per share)	$ 0.05
Cash dividend declared	$ 3.7
Stock repurchased and canceled (in shares)		33,064
Common stock, shares outstanding (in shares)		73,175,552