Greek tanker owner StealthGas is on the brink of banking $26m from the sale of four LPG carriers.
The Nasdaq-listed gas specialist says the 3,500-cbm Gas Shanghai (built 1999), 6,562-cbm Gas Chios (built 1991), 3,510-cbm Gas Czar (built 1995) and 3,518-cbm Gas Nemesis (built 1996) have been picked up by “unaffiliated third parties” but failed to identify the buyers by name.
The Gas Shanghai, which TradeWinds reported sold in April, has already changed hands while the remaining vessels are expected to join new owners by the end of July.
News of the StealthGas sell-off may not come as a surprise as the company has gradually trimmed its fleet over the past 12 months in preparation for a series of five newbuildings inked at Japan's Kanrei Zosen.
The 5,000-cbm Gas Elixir and Gas Cerberus (both built 2011) hit the water earlier this year while the 5,000-cbm Gas Myth, 7,500-cbm Gas Husky and 7,500-cbm Gas Esco are scheduled for delivery in July 2011, January 2012 and May 2012, respectively.
Based in Athens, StealthGas controls a fleet of 50 LPG, chemical and crude tankers.
Today the company confirmed reports that three of the vessels had secured new contracts but failed to label the charterers with names.
StealthGas told investors that an “international gas trader” had indulged in one-year bareboat extensions for the 5,000-cbm Lyne (built 1996) and Sir Ivor (built 2003). The renewals begin this month. Flopec of Ecuador has been tipped as the mystery patron following a relet led by Petredec.
Additionally, the 3,500-cbm Gas Evoluzione (built 1996) tied up a one-year time charter extension with a “major natural gas company” in a deal that resets in August.
The owner says the average time charter equivalent rate for the trio amounts to approximately $300,000 per calendar month or $10,000 per day.