Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although STEALTHGAS INC. believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, STEALTHGAS INC. cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including changes in charter hire rates and vessel values, charter counterparty performance, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled dry dockings, changes in STEALTHGAS INC.'s operating expenses, including bunker prices, dry-docking and insurance costs, ability to obtain financing and comply with covenants in our financing arrangements, or actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents and political events or acts by terrorists.
Risks and uncertainties are further described in reports filed by STEALTHGAS INC. with the U.S. Securities and Exchange Commission.
Visit our website at www.stealthgas.comFleet D ata: The following key indicators highlight the Company's operating performance during the second quarters and six months ended June 30, 2011 and June 30, 2012.
|FLEET DATA||Q2 2011||Q2 2012||6M 2011||6M 2012|
|Average number of vessels (1)||38.7||36.5||38.5||36.7|
|Period end number of vessels in fleet||37||37||37||37|
|Total calendar days for fleet (2)||3,525||3,319||6,977||6,686|
|Total voyage days for fleet (3)||3,496||3,288||6,859||6,553|
|Fleet utilization (4)||99.2%||99.1%||98.3%||98.0%|
|Total charter days for fleet (5)||2,491||2,869||5,269||5,831|
|Total spot market days for fleet (6)||1,005||419||1,590||722|
|Fleet operational utilization (7)||87.5%||94.3%||90.1%||95.1%|
|AVERAGE DAILY RESULTS||Q2 2011||Q2 2012||6M 2011||6M 2012|
|Time Charter Equivalent – TCE (8)||$7,457||$8,041||$7,726||$8,083|
|Vessel operating expenses (9)||2,796||2,258||2,919||2,267|
|General and administrative expenses||213||163||190||174|
|Total operating expenses (10)||3,009||2,421||3,109||2,442|
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