Vafias Group Announces New Vessel Deliveries

Over the last 4 months, the Vafias group has taken delivery of five (5) newbuilding eco gas carriers from three (3) different Japanese yards.

Namely the vessels are:

‘eco stream’: 7,200 cbm, Marshall Islands flag, under ClassNK and is on long charter until 2022

‘eco chios’: 7,200 cbm, Marshall Islands flag, under ClassNK and is on long charter until 2022

‘eco invictus’: 5,000 cbm, Marshall Islands flag, under class BV and is on charter until October 2015

‘eco corsair’: 3,500 cbm, Marshall Islands flag, under class ABS and is trading in the spot market

‘eco elysium’: 3,500 cbm, Marshall Islands flag, under class ABS and is on long charter until 2021

The group has another 20 newbuildings on order, mainly in japan (16 gas carriers and 4 bulkers), of which 90 percent will deliver promptly by October 2015.

In addition, the group has succeeded to have all its 22 crude and MR tankers on period charters, its dry bulk fleet of capes and handies on period and has now only 5 gas vessels trading in the spot market.

StealthGas has also reduced its bank debt to merely 20 percent debt to cap, an exceptional performance for a company that has grown exponentially over the last 2 years.