Stealthgas Acquires LPG Carrier

Monday, June 19, 2006
Stealthgas Inc. has entered into an agreement to acquire its 28th LPG carrier, the M/V Batangas, for consideration of $9.4m with expected delivery in early July 2006. Batangas is a Fully-Pressurized (F.P.) LPG carrier built in Japan in 1995 with a capacity of 3,300 cubic meters (cbm). Upon delivery, it will be immediately deployed under a bareboat charter to a major gas trader at a rate of $106,000 per calendar month until July 2008.

Furthermore, Stealthgas Inc. announced that on June 15, 2006 it took delivery of the Gas Nemesis, a vessel it had previously agreed to acquire. The Gas Nemesis is a Fully-Pressurized (F.P.) LPG carrier built in Japan in 1995 with a capacity of 5,016 cubic meters (cbm) and upon its delivery was deployed under an existing time charter to a major oil company at the rate of USD 201,500 per calendar month until December 2006. Thereafter the "Gas Nemesis" will be chartered for a further one year period at a minimum rate of $200,000 pcm and a maximum rate of $260,000 pcm the rate to be fixed one month prior to the expiry of the current time charter.

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Exxon: U.S. to Allow Wind Down Ops in Russian Arctic

U.S. oil major Exxon Mobil said on Friday the U.S. Treasury Department granted it a license to wind down operations on a drilling well in the Kara Sea in the Russian Arctic.

Sulzer Shareholder has 5 pct Dresser-Rand Stake

Russian billionaire Viktor Vekselberg's Swiss investment firm Renova Group said on Friday it had a 4.99 percent stake in U.S.-based Dresser-Rand, which might become the object of a takeover battle.

Russia: Exxon Still Drilling in its Arctic

ExxonMobil is still drilling in the Russian Arctic, a Russian minister said on Friday, in move that if confirmed will anger Washington after the U.S. administration

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0984 sec (10 req/sec)