StealthGas, on the back of $120m available, is set to expand its fleet with newbuildings and second-hand vessels.
CEO Harry Vafias said the company has $50m in free cash and three unencumbered vessels which could be leveraged to aid the hunt for fresh tonnage, which totals up to $120m.
He said it would be easy to buy second-hand vessels with reasonable pricing and now Japanese yards offer favorable ship prices with increasing yen-dollar exchange rate.
Global Hunter Securities said “Considering StealthGas' strong liquidity and cash flow profile, we expect management to consider further newbuild contracts, secondhand purchases and the sale of older tonnage.”