StealthGas Plans to Capitalize on U.S. Gas Exports

Bloomber.com
Tuesday, April 02, 2013

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.

Bloomberg analysts estimate that shares of StealthGas which have doubled to $11.99 in the past year will climb 7% within a year to $12.83, leading the company to report a profit of $25.9 million this year and $33 million in 2014, according to predictions compiled by Bloomberg

“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. Rates for ships with a 5,000- cubic-meter capacity climbed 5.3% to $300,000 a month since October, according to London-based Clarkson Plc, the world’s largest shipbroker. The owner also has four semi- refrigerated vessels that use a combination of cooling and pressure to keep cargoes in liquid form,” Bloomberg.com reported.
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

New Shipping Firm Sets up in Vancouver

A new shipping company has established itself in Vancouver as the Vancouver International Maritime Centre (VIMC) completes its Asia tour, launching in Tokyo, Singapore and Hong Kong.

Pressure Steady on LNG Shipping Rates -Drewry

LNG shipowners will have to wait until 2018 for earnings to improve, when the majority of new US plants are expected to come online, according to the latest edition

Asia Tankers-VLCCs Rates Ease as Tanker Jams Fade

Port congestion eases at Basra and Chinese ports; tanker demand set to expand on lower oil prices. Freight rates for very large crude carriers (VLCCs), hurt by slower-than-usual release of cargo,

Energy

Oil Rally is Not Just About Hedge Funds: Kemp

Oil prices are becoming dangerously overheated as speculators anticipate a rebalancing of supply and demand that has barely started, according to many oil analysts.

Pressure Steady on LNG Shipping Rates -Drewry

LNG shipowners will have to wait until 2018 for earnings to improve, when the majority of new US plants are expected to come online, according to the latest edition

Asia Tankers-VLCCs Rates Ease as Tanker Jams Fade

Port congestion eases at Basra and Chinese ports; tanker demand set to expand on lower oil prices. Freight rates for very large crude carriers (VLCCs), hurt by slower-than-usual release of cargo,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | 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: 0.0738 sec (14 req/sec)