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

Tanker Trends

For Europe's LNG Ports, Russia Gas Fears and US Exporters Buoy Demand

Gas buyers nervous of Russia cutting supply are helping solve Europe's problem of too many underused liquefied natural gas (LNG) terminals, as they seek space at France's Dunkirk plant.

Buckeye Pipeline Quietly Makes Key Acquisition

Houston-based logistic firm Buckeye Partners has spent more than $3.5 billion buying assets since 2010, transforming itself from a quiet regional pipeline utility into an emerging energy powerhouse.

Scorpio Tankers Receive 7 More Newbuildings

Scorpio Tankers Inc. say it has recently taken delivery of seven newbuilding vessels as follows: STI Madison and STI Park, LR2 product tankers, were delivered

Energy

For Europe's LNG Ports, Russia Gas Fears and US Exporters Buoy Demand

Gas buyers nervous of Russia cutting supply are helping solve Europe's problem of too many underused liquefied natural gas (LNG) terminals, as they seek space at France's Dunkirk plant.

Statoil: COSL Pioneer Temporarily Suspended

Due to overcapacity in their rig portfolio, Statoil will lay up the COSL Pioneer rig in the fourth quarter of 2014. The rig is currently carrying out an assignment

Buckeye Pipeline Quietly Makes Key Acquisition

Houston-based logistic firm Buckeye Partners has spent more than $3.5 billion buying assets since 2010, transforming itself from a quiet regional pipeline utility into an emerging energy powerhouse.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Salvage Ship Electronics Ship Repair Sonar
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: 0.1066 sec (9 req/sec)