StealthGas achieved record profitability in the first quarter of this year, boosted by the positive climate prevailing in the market of LPG carriers.
As the CEO of the listed company in the US stock market, Mr. Vafias, said, the profits of 17.7 million dollars between January and March 2024 constitute a historically high quarterly performance in the 20 years since its establishment. In the same period last year, the shipping company recorded a profit of 16.8 million dollars.
“These excellent results are mainly due to the higher revenues and reduced expenses on both MGC carriers that were added to the fleet and started to deliver highly productive results,” emphasized Vafias.
In particular, the revenue of the shipping company “climbed” to 41.5 million dollars this year, from 38 million dollars in last year’s first quarter.
After new charters, as well as agreement extensions secured during the first quarter, StealthGas’ total contracted revenue in May reached 180 million dollars.
The listed company has covered approximately 73% of the available fleet days with time charters for 2024 and 30% for 2025.
StealthGas operates a fleet of 32 LPG carriers, including five vessels operated in a consortium, with a total capacity of 354,188 cubic meters.
