StealthGas Plans to Capitalize on U.S. Gas Exports

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.