NVGS · CIK 0001581804
What Navigator Holdings Ltd. told the SEC could break it.
2 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
A limited set so far, we surface every cited disclosure we’ve extracted for NVGS. More may follow as additional filings are processed.
In its own words
What could break it.
Other disclosures
- ownership concentration — Ultranav (32.49%) + BW Group (22.82%) hold ~55%medium
Two unrelated shipping groups, Ultranav and BW Group, together own ~55% of common stock and can each exert considerable influence; large block sales could also pressure the share price.
“Ultranav and BW Group, two unrelated shareholders of the Company that, to our knowledge, act independently of each other, collectively, owned an aggregate of approximately 55% of our common stock as of December 31, 2025.”
SEC filing →As of 2026
Regulatory & policy
- U.S.–China tariff tensions — ethylene export flows through its Houston terminallow
The Ethylene Export Terminal JV (815,971 tons throughput in 2025) is exposed to trade-policy flow shifts: U.S.–China tariff tensions affected 2025 trade, with exports redirecting to Europe at record levels — a flow-shift rather than pure-downside signal.
“Steady U.S. ethylene prices were supporting exports to Europe, which reached their highest level in 2025. U.S.–China tariff tensions affected trade in 2025.”
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings, including ones disclosed by the other side, which is how the non-obvious ones come to light.
Its customers
“We provide seaborne transportation and distribution services for LPG, ethane, ethylene, petrochemical gases and ammonia to: Major Oil and Gas Companies, such as ExxonMobil, ENI, BP, Shell and Phillips 66; Sonatrach, the national oil and gas company of Algeria”
Cited →“We provide seaborne transportation and distribution services for LPG, ethane, ethylene, petrochemical gases and ammonia to: Major Oil and Gas Companies, such as ExxonMobil, ENI, BP, Shell and Phillips 66; Sonatrach, the national oil and gas company of Algeria”
Cited →“We provide seaborne transportation and distribution services for LPG, ethane, ethylene, petrochemical gases and ammonia to: Major Oil and Gas Companies, such as ExxonMobil, ENI, BP, Shell and Phillips 66; Sonatrach, the national oil and gas company of Algeria”
Cited →
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