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Navigator Holdings' (NVGS) CEO David Butters on Q4 2017 Results - Earnings Call Transcript

Mar. 06, 2018 1:20 PM ETNavigator Holdings Ltd. (NVGS)
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Navigator Holdings Ltd (NYSE:NVGS) Q4 2017 Earnings Conference Call March 6, 2018 9:00 AM ET


David Butters - Chairman, CEO and President

Niall Nolan - CFO

Oeyvind Lindeman - Chief Commercial Officer


Donald McLee - Berenberg

Jonathan Chappell - Evercore ISI

Michael Webber - Wells Fargo Securities

Randall Giveans - Jefferies LLC

Fotis Giannakoulis - Morgan Stanley


Good afternoon, ladies and gentlemen. Thank you for standing by, and welcome to the Navigator Holdings Conference Call on the Fourth Quarter 2017 Financial Results. We have with us Mr. David Butters, Chairman, President and Chief Executive Officer; Mr. Niall Nolan, Chief Financial Officer; and Mr. Oeyvind Lindeman, Chief Commercial Officer of the company. [Operator Instructions]. I must advise you that this conference is being recorded today, and I now pass the floor to one of your speakers to Mr. Butters. Please go ahead, sir.

David Butters

Thank you, Jeannie. Welcome all to the Navigator's Fourth Quarter 2017 Earnings Conference Call. Niall Nolan, our Chief Financial Officer, is here in New York with me. And also joining from our London office is Oeyvind Lindeman, our Chief Commercial Officer.

As you probably have seen last night after the market closed, we released our fourth quarter earnings report, along with a summary of full year's results. Niall will cover the details of the release shortly, but needless to say, they continue to reflect the poor trading conditions that began near the end of 2016 and continued throughout 2017.

There was only modest comfort in the fact that our fourth quarter reflected a small profit compared to a small loss in our third quarter. For the year, Navigator reported a profit of $5.3 million after an extraordinary charge of $3.5 million associated with debt redemption.

Now with the international LPG shipping industry generally

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