US-listed Navigator Holdings has revealed new financing deals as it fell to a loss in the fourth quarter.
The LPG carrier owner said the net deficit to 31 December was $3.9m, against a profit of $1.4m in 2017.
Revenue rose 2% to $78.2m, but interest costs increased by $2m.
The average time charter equivalent rate across the fleet was $20,920 per day, against $20,586 per day a year ago.
Fleet utilisation for the 38 ships was 86.3%, down from 87.2% in 2017.
Last month, the company successfully re-financed four of its ethylene-capable vessels from the 2015 secured term loan facility for $107.
The repayment of the loan on the quartet was $75.6m, leaving net proceeds of $31.4m for fees and for general corporate purposes.
And last week, its Navigator Ethylene Terminals unit sealed a credit agreement with ING Capital and SG Americas Securities for up $75m.
This will be used to finance project costs relating to a new export terminal in Houston.
