STEALTHGAS 2Q And 1H 2014 Results
STEALTHGAS INC. a ship-owning company primarily serving the liquefied petroleum gas (LPG) sector of the international shipping industry, released today its unaudited financial and operating results for the second quarter and six months ended June 30, 2014. § Revenues for the three months ended June 30, 2014 amounted to $31.9 million, an increase of $1.6 million, or 5.28%, compared to revenues of $30.3 million for the three months ended June 30, 2013, primarily due to the higher number of vessels in the 2014 period. § Voyage expenses and vessels’ operating expenses for the three months ended June 30, 2014 were $3.5 million and $10.7 million, respectively, compared to $4.6 million and $8.7 million for the three months ended June 30, 2013.
Stealthgas Inc Report Improving Q1 2012 Results
I am very pleased with the results we announced today. Our financial performance continues to improve as a result of a strengthening LPG market. The Company's bottom line bears evidence to the solid environment we operate in and to our efforts to take advantage of the increased chartering activity while at the same time we continue our efforts to contain the cost base. As previously announced, during the first quarter we managed to conclude a number of long-term charters, which is usually a sign of positive market expectations. As a result, the forward coverage of our revenues has increased to 80% for 2012 and 55% for 2013. In terms of fleet capacity, during the first quarter we sold one vessel, Gas Tiny, and took delivery of one newbuilding vessel, Gas Husky.
