Stealthgas News

StealthGas Inc, the world's largest owner of liquefied petroleum gas (LPG) pressurized carriers in the strategic 3,000-8,000cbm segment,  has expanding its fleet with two acquisitions. The company has also made six  chartering arrangements.The Greek shipping transportation company announced that it has entered into a new LPG sub segment through the acquisition of a secondhand (2007 built) 38,000 cbm fully refrigerated vessel. This vessel was acquired with its JV partner.The company also  announced its entrance into a second new LPG sub segment, through an acquisition - from a third party -  of an 11,000 cbm pressurized newbuilding LPG vessel with delivery in 2021.

StealthGas announced the delivery of its last newbuilding LPG vessel and the completion of its newbuilding program. The vessel delivered yesterday (April 17, 2018) is a 22,000 cbm ice class semi refrigerated hybrid scrubber fitted eco LPG carrier, the Eco Freeze, the fourth and last 22,000 cbm semi refrigerated eco LPG newbuild. This acquisition concludes the Company’s expansion phase which commenced in 2011 and totaled the acquisition of 26 newbuilding LPG vessels. Twenty ships were delivered from Japanese yards and six from South Korean yards. StealthGas Inc. is a ship-owning company primarily serving the liquefied petroleum gas (LPG) sector of the international shipping industry.

Tengizchevroil (TCO), Kazakhstan's liquefied petroleum gas (LPG) producer and exporter, plans to raise propane and butane export through Russian port Taman in 2018 to 450,000 tonnes from 240,000 tonnes in 2017, traders said. TCO's shipments of LPG through Taman port will grow in March to about 40,000 tonnes from 27,000 tonnes in February, traders said. "TCO's LPG export through Taman port will go up to 40,000 from 20,000 tonnes per month (on average in 2017), with further growth possible," said a source in the port. OTEKO, the owner of Taman transshipment terminal, declined to comment and there was no response from TCO. International oil trader Vitol is responsible for supplying TCO's LPG via Taman terminal.

Liquefied petroleum gas (LPG) carrier and tanker owner StealthGas has reported revenues of $38.4 mill in the fourth quarter of last year, an increase of 2.4% compared to 4Q16. The Greece-based company reported fourth-quarter net income of $748,000, after reporting a loss in the same period a year earlier. For the year, the company reported that its loss narrowed to $1.2 million, or 3 cents per share. Revenue was reported as $154.3 million. StealthGas board chairman Michael Jolliffe Commented that the 4Q 2017 was mixed. "On the one hand we are pleased that our core market of small LPGs shows clear signs of improvement, which should continue to leverage our earnings.

StealthGas, ship-owning company primarily serving the liquefied petroleum gas (LPG) sector of the international shipping industry, registered  an operational utilization of 97.3% in Q1 2017 (91.1% in Q1 2016), best performance since the beginning of 2014. Revenues for the three months ended March 31, 2017 amounted to $38.1 million, an increase of $1.6 million, or 4.4%, compared to revenues of $36.5 million for the three months ended March 31, 2016, due to increased fleet utilization and a slight increase in market rates. Board Chairman Michael Jolliffe said that his company's performance during the first quarter of 2017 leaves it cautiously optimistic for the future.

StealthGas Inc., a ship-owning company primarily serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced today as part of its fleet expansion program the acquisition of two newbuilding LPG vessels. The company exercised the acquisition options with a Korean yard and the additions to the fleet consist of two 22,000 cbm semi refrigerated eco LPG carriers scheduled to be delivered in the second and third quarter of 2017, respectively. The company expects that the acquisition of these larger semi refrigerated eco LPG carriers that can load LPG with high ethane content, will complement well its already leading position in pressurized vessels.

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.,  a shipowning company primarily serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced today that it has priced an underwritten registered offering of 3,500,000 shares of its common stock, at an offering price of $10.00 per share for gross proceeds, before estimated expenses payable by StealthGas Inc., of approximately $35 million. The shares were placed with several institutional investors, in addition to entities affiliated with the family of StealthGas Inc.’s President and Chief Executive Officer. Global Hunter Securities, LLC is acting as the sole underwriter for the offering.

The fifth annual Iron Ore and Coal World Shipping Summit will take place on October 1 in Athens, Greece. The conference will focus on the maritime transportation of iron ore and coal, making an attempt to forecast the trends of global economy; iron ore, coal and other commodities, production and distribution; the trading markets, shipping capacities, shipbuilding and shipping requirements; the financing and investment climate, shipping innovation effects on ship-values and the environmental imperatives. •    Nicky Pappadakis, President Emeritus Intercargo and Chairman, I.G. Pappadakis & Co. •    Harris Vafias President & CEO, StealthGas Inc. •    George D. •    John Su Managing Director, Keen Maritime Services Inc. •    Janos Koenig Managing Director, Eurofin International Ltd.

StealthGas Inc., has increased the size of its stock offering, & will sell 10-million shares at $10 each using the proceeds towards purchase of 5 ships. The gross proceeds from the offering before the underwriting discount and other offering expenses are $100,000,000. An entity controlled by the family of the Company’s President and Chief Executive Officer has agreed to purchase 500,000 of the shares sold in the offering. The Company has also granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock. The Company intends to use a portion of the net proceeds of the offering to partially fund the acquisition of five vessels…

StealthGas Inc. announced an underwritten public offering of 8,000,000 shares of its common stock pursuant to the Company's effective shelf registration statement filed with the Securities and Exchange Commission. An entity controlled by the family of the Company's President and Chief Executive Officer has indicated its intention to purchase approximately 5% of the shares offered in the offering. In connection with the offering, the Company intends to grant the underwriters a 30-day option to purchase up to 1,200,000 additional shares of its common stock. The Company intends to use a portion of the net proceeds of the offering to partially fund the acquisition of five vessels…

Athens-based StealthGas (GASS) Inc. redeployed tankers as far as 13,500 miles to capitalize on record U.S. exports of liquefied petroleum gas, Bloomberg.com reported. StealthGas will reportedly increase its presence in the Americas crom the current 15% of its fleet to 25% by the December. This is due to the surge in cargoes exceeding the supply of ships from the Gulf of Mexico in the Caribbean and South America. The U.S. Energy Department data shows a 33% rise in national LPG shipments, and they are estimated to reach 12 million metric tons in 2015, more than doubling in two years. “StealthGas operates 33 fully-pressurized vessels that can haul 3,200 to 7,500 cubic meters of LPG, giving it a 14% market share, company data show.

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.

STEALTHGAS INC. (Nasdaq:GASS), a ship-owning company serving primarily the liquified petroleum gas (LPG) sector of the international shipping industry, announced today the delivery of Gas Cerberus, new charter arrangements for three vessels, the sale of four vessels and first quarter 2011 financial results release date, conference call and webcast. On April 20, 2011, the Company took delivery of the 5,000cbm LPG carrier, Gas Cerberus, from the yard which has since been deployed in the spot market.

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.

Stealthgas a ship owning company serving primarily the liquefied petroleum gas (LPG) sector of the international shipping industry, announced today that is has entered into contracts to acquire, from an unaffiliated party, two new 47,000 deadweight M.R. type product tankers ex yard for delivery in February and April 2008 respectively. Upon their delivery to the Company they will be deployed on seven year bare boat charters to an international oil trader. The total purchase price of the two vessels is $115m and this will be funded by a combination of equity from the Company's successful follow on offering completed in July 2007 and bank debt. The aggregate monthly income for the two vessels is $932,672 per calendar month.

Stealthgas, a ship-owning company serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced the deliveries of the M/V Gas Sophie and the M/V Gas Haralambos, the sale of the M/V Gas Oracle, the M/V Gas Renovatio and the M/V Gas Nemesis, new chartering arrangements for the M/V Gas Emperor and the M/V Gas Tiny and the appointment to its Board of Directors of Lambros Babilis as an Executive Director and Deputy Chairman. The company took delivery of the M/V Gas Sophie on October 15, 2007 and the M/V Gas Haralambos on October 31, 2007, two vessels it had previously contracted to acquire. The M/V Gas Sophie is a 1995 built, 3,500 cbm Fully Pressurized LPG carrier.

STEALTHGAS INC. (NASDAQ: GASS), a ship-owning company serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced today its unaudited financial and operating results for the quarter and nine months ended September 30, 2007. For the quarter ended September 30, 2007, net revenues amounted to $23.2m and net income was $4.0m an increase of $4.6m or 24.4% and an increase of $1.9m or 91.0%, respectively, from net revenues of $18.7m and net income of $2.1m for the quarter ended September 30, 2006. Basic and diluted earnings per share calculated on 20,574,635 basic weighted average number of shares and 20…

Stealthgas has entered into an agreement to acquire two contracts for LPG carriers under construction, the M/V Gas Flawless and the M/V Gas Haralambos, for a total consideration of $46m. The Gas Flawless, a 6,300 cbm Fully Pressurized (F.P.) LPG carrier hull number 595, is expected to be delivered to STEALTHGAS ex yard Higaki Zosen, Japan in early February 2007. The Gas Haralambos, a 7,000 cbm Fully Pressurized (F.P.) LPG carrier hull number K408, is expected to be delivered to STEALTHGAS ex yard Kanrei Zosen, Japan in October 2007. STEALTHGAS INC. announced that it has entered into new time charter arrangements for the "Gas Tiny" and the "Gas Oracle", has extended the existing time charter for the "Gas Czar" and has extended the existing bare boat charter for the "Birgit Kosan".

Stealthgas Inc. took delivery of the M/V Sea Bird II on May 18, 2007, the M/V Gas Renovatio on May 29, 2007, the M/V Gas Icon on June 27, 2007, and the M/V Chiltern on June 28, 2007, four LPG carriers that it had previously announced its agreement to acquire, expanding its current fleet to 33 vessels, with a carrying capacity of 141,912 cbm. The M/V Sea Bird II is a 1996 built, 3,518 cbm Fully Pressurized LPG carrier and is employed under a two-year bareboat charter until May 2009 to an international gas trader. The M/V Gas Renovatio is a 1997 built, 3,313 cbm Fully Pressurized LPG carrier. Upon its delivery to the Company, it was deployed under a 7-month time charter until January 2008 to an international gas trader.

Stealthgas will acquire its 39th LPG carrier, the M/V Gas Premiership, a 2001 built, 7,200 cbm Fully Pressurized LPG carrier. Upon its expected delivery to the company in February 2008, the vessel will be deployed under a four-year time charter to an international gas trader. The company also announced that it took delivery of the M/V Gas Evoluzione on July 23, 2007, M/V Gas Kalogeros on July 27, 2007, and the M/V Gas Sikousis on August 3, 2007, three LPG carriers that it had previously announced its agreement to acquire, thereby expanding its current fleet to 36 vessels, with a carrying capacity of 153,929 cbm. The M/V Gas Evoluzione is a 1996 built, 3,517 cbm Fully Pressurized LPG carrier. Upon its delivery, it was deployed on a time charter for 12-months to an oil major.

Stealthgas Inc., a ship-owning company serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced its unaudited financial and operating results for the quarter and six months ended June 30, 2007. For the quarter ended June 30, 2007, net revenues amounted to $19.9m and net income was $5.7m an increase of $2.7m or 15.7% and an increase of $1.1m or 23.9 percent respectively from net revenues of $17.2m and net income of $4.6m for the quarter ended June 30, 2006. Earnings per share, basic and diluted, calculated on 14,400,000 weighted average number of shares outstanding, were $0.40 for the quarter ended June 30…

Stealthgas has entered into new time charter agreements for M/V Gas Sophie, M/V Gas Czar and M/V Gas Nemesis. The company has entered into a new bareboat charter for M/V Gas Ice and extended time charters for M/V Gas Renovatio, M/V Gas Zael, M/V Gas Sincerity, M/V Gas Shanghai, M/V Gas Kalogeros, M/V Gas Legacy, M/V Gas Icon and the M/V Gas Spirit. The M/V Gas Sophie, upon its scheduled delivery in October 2007 will be deployed on a time charter for 12 months to an international gas trader. The vessel is a 1995 built 3,500 cbm, Fully Pressurized LPG carrier that the Company agreed to acquire in early April 2007. The M/V Gas Czar and M/V Gas Nemesis have entered into new time charters both for 12 months beginning in December 2007 and May 2008, respectively, to an international gas trader.