STEALTHGAS INC. Looking to Capture Market Upturn as the Freight Market Improves Post-Pandemic
STEALTHGAS INC., a ship-owning company primarily serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced its unaudited financial and operating results for the first quarter ended March 31, 2021.
OPERATIONAL AND FINANCIAL HIGHLIGHTS1
Fleet utilization of 98.7% with 50 days of technical off hire mainly as a result of one drydocking completed within Q1 2021.
Operational utilization of 93.1% mainly due to 15 of our ships having a predominant presence in the spot market – equivalent to 31.2% of voyage days.
61% of fleet days secured on period charters for the remainder of 2021, with total fleet employment days for all subsequent periods generating approximately $87 million (excluding vessels in joint ventures) in contracted revenues. Period coverage for the remainder of Q2 21’ is currently 80%.