Second quarter events:
As previously announced, the Gas Kalogeros was delivered to her new owners on May 4
, 2012. The vessel was sold at a small profit.
The Company took delivery from the yard of the 7,500 cbm LPG carrier, Gas Esco, as expected in June 2012. With the delivery of the Gas Esco, the Company's newbuilding program has been completed and there are no remaining capital expenditure requirements.
The time charter for the 5,018 cbm, built 2011, LPG carrier, Gas Cerberus has been extended for one year until July 2013.
CEO Harry Vafias commented
"We have seen considerable improvement in our bottom line as compared to the same period last year, as a result of the strengthening of the LPG market and our chartering strategy. Even though we may expect some typical seasonal weakness during the summer months, we are confident that the fundamentals in our core segment point to further market improvements in the future. With an improved cash position, we are still evaluating strategic opportunities to grow and renew our fleet and increase our market share."
Conference Call details:
On August 17th, 2012 at 11:00 am ET, the company's management will host a conference call to discuss the results and the company's operations and outlook.
Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 1866 966 9439 (US Toll Free Dial In) or 0800 694 0257 (UK Toll Free Dial In).
In case of any problems with the above numbers, please dial +01 631 510 7498 (US Toll Dial In), or +44 (0)1452 555 566 (Standard International Dial In). Please quote "20389534".
A telephonic replay of the conference call will be available until August 23
, 2012 by dialling 1866 247 4222 (US Toll Free Dial In), 0800 953 1533 (UK Toll Free Dial In) or +44 (0)1452 55 00 00 (Standard International Dial In). Access Code: 20389534#
Slides and audio webcast:
There will also be a live-and then archived webcast of the conference call, through the STEALTHGAS INC. website (
). Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.
About STEALTHGAS INC.
Headquartered in Athens, Greece, STEALTHGAS INC. is a ship-owning company primarily serving the LPG sector of the international shipping industry. As of the date of this press release, STEALTHGAS INC. has a fleet of 33 LPG carriers with a total capacity of 161,822 cbm, three medium range (M.R.) product tankers and one Aframax oil tanker with a total capacity of 255,804 deadweight tons (dwt). STEALTHGAS INC.'s shares are listed on the NASDAQ Global Select Market and trade under the symbol "GASS."