StealthGas Orders More LPG Carriers, New Execs Hired

Athens-based LPG shipper StealthGas (Nasdaq:GASS) has announced the newbuilding order of two LPG carriers from Japanese shipyards consisting of a 5,000 cubic meter (cbm) vessel and a 3,500 cbm vessel with deliveries scheduled for Q4 2014 and Q1 2015, respectively. StealthGas notes that with this new order, 17 new ships are expected to be delivered to the company between … [Read more...]

Frontline 2012 to Join Avance Gas Holding in LPG Shipping Consolidation

Frontline 2012 signed a heads of agreement (HOA) today with Stolt-Nielsen Limited (Oslo Børs: SNI) whereby Frontline 2012 will become a shareholder in Avance Gas Holding Ltd (AGHL), an entity jointly owned by Stolt-Nielsen Gas and Sungas Holdings. Following the expected transaction, the three owners will exercise equal control over AGHL, a holding company centered around the … [Read more...]

SEACOR Orders Pair of VLGCs from Hyundai Heavy

After a $10.9 million loss in the first quarter this year, SEACOR Holdings' (NYSE:CKH) Executive Chairman of the Board, Charles Fabrikant was justifiably unhappy with his company's results.  However, it's time to move on. And move on they have. The Fort Lauderdale-based shipping firm announced today that it has executed an agreement with Hyundai Heavy Industries Co., Ltd. … [Read more...]

StealthGas To Fund LPG Fleet Expansion Through Share Offering

StealthGas Inc. (NASDAQ:GASS) announced today their plans to offer 8,000,000 shares of its common stock in order to partially fund the acquisition of five vessels, consisting of three second-hand LPG carriers and two new build LPG carriers. The two newbuild LPG carriers have an expected delivery of May 2013, and the three other vessels will be delivered in the second half of … [Read more...]

StealthGas Redeploys Fleet of LPG Ships to U.S. as Huge New Market Develops

(Bloomberg) -- Record U.S. exports of liquefied petroleum gas are spurring StealthGas Inc. to redeploy tankers as far as 13,500 miles to take advantage of one of the few capacity shortages in global shipping. The owner with the most LPG carriers will have 25 percent of its fleet in the Americas by December, from about 15 percent now, Chief Executive Officer Harry Vafias said … [Read more...]