Marine Link
Tuesday, September 27, 2016

Stealthgas Acquires LPG Carrier

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 Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News