Covid-19 dragged down Navigator Holdings' utilisation rate, but charter rates have not suffered as much.
Alongside its fourth quarter earnings, the New York-listed LPG carrier owner disclosed its utilisation rate had fallen from 97.2% in January to the mid-80% range thanks to the coronavirus outbreak.
On its call Friday, chief commercial officer Oeyvind Lindeman said charter rates had fallen from headline rates of $695,000 per month reported by Clarksons to $665,000 per month for the last full week in March.
