New York-listed Navigator Holdings is forming a joint venture to buy five ethylene carriers from its partner Greater Bay Gas in China.

The new operation will be owned 60% by Navigator and 40% by Greater Bay Gas.

Over the next 15 months, the venture intends to buy five ethylene vessels operated by the Chinese company.

These were not named but appear to be the 17,000-cbm Pacific Jupiter and Pacific Venus (both built 2018), and the 22,000-cbm Pacific Mars, Mercury and Saturn (all built 2019).