StealthGas Acquires Newbuild

Monday, April 21, 2008

StealthGas Inc. has entered into an agreement to acquire from an unaffiliated entity a resale new build Korean built 47,000 deadweight IMO 3 M.R. type Product Carrier. The purchase price of the vessel is $57.5 million and she will be financed through a combination of bank debt and internally generated cash resources. Upon her expected delivery to the Company in April 2009 she will be deployed on a three-year time charter to a Far Eastern based ship operator at a rate of $22,000 per day.
The company also announced that it completed on March 19, 2008 the previously announced purchase of the Gas Premiership Japanese built 7,200 cbm Fully Pressurized LPG carrier; she has been deployed on a near four-year time charter to an international gas trader. The time charter rate will increase annually in January 2009 by 4.0%, in January 2010 by 3.8% and in January 2011 by 3.7% respectively.The company also announced that it has completed the third of three previously announced sales of Handy Size LPG carriers. The Gas Renovatio was delivered to her new owners on March 19, 2008.
The company also announced that upon completion of her existing bare boat charter in mid-May the Chiltern will immediately commence a new five-year bare boat charter to a European LPG operator at a rate representing a circa 20 percent increase over the existing bare boat charter rate.

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

News

USCG Assist Duck Hunters Near Harrington Beach Park

The Coast Guard and the Port Washington and Cedar Grove Fire Departments came to the assistance of two duck hunters on Lake Michigan Friday. The names of those involved are not being released.

Sapurakencana Wins 3 Petronas Oil blocks

SapuraKencana Petroleum Berhad today announced that it has entered into Sale and Purchase Agreements to acquire the entire interest of PETRONAS in 3 blocks offshore

Kemp Succeeds Semple at Wood Group

Wood Group announced following changes to its senior management team. Alan Semple, chief financial officer (CFO) has advised the board that he intends to

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pipelines Port Authority Salvage Ship Electronics Ship Repair 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: 0.1365 sec (7 req/sec)