At the moment, fixed employment for the fleet for the remainder of the year is 75%. We have almost 50% fixed for 2012, while the equivalent fall coverage numbers are the same as last year, 75% and 35% respectively. Our [unintelligible] goal has been to own and operate a modern fleet of LPGs, and in this respect the average age as of today is 11 years, not including the four tankers, which is rather young compared to the industry average.Last quarter, the average age of our LPG fleet was 12 years. Including the product tankers, the Aframax tankers, and the newbuilding vessels, we estimate that at the end of 2011, our fleet will have an average age of 10.5 years. We continue to believe that, within our core segment, this gives us a competitive advantage, as younger vessels have less operating expenses, consume less [unintelligible] and are more appealing to blue chip charters and that this fact will be important as we move forward into 2012 and beyond.
StealthGas CEO Discusses Q2 2011 Results - Earnings Call Transcript
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