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Vafias group names two more gas carriers in Japan

Wednesday, 25 January 2012 | 00:00
On the 12th of january 2012 the Vafias group of companies named two more gas carriers in japan. The two purpose built high spec fuel efficient LPG/VCM carriers both were 7,500 cbm and both flew the Liberian flag and classed by bureau veritas. The first one which was delivered on the 18th of jan was named 'GAS HUSKY' by mrs gill fisher wife of oman shipping co CEO mr Nicholas fisher. The 2nd one which will be delivered in may 2012 was named 'GAS ESCO' by mrs aimilia lagounaris.
The GAS HUSKY starts a long charter to a middle eastern state company while the GAS ESCO is still unfixed.
After these deliveries STEALTHGAS INC (listed GASS) still maintains its lead position as the largest owner by number of owned ships in the 3000-8000 cbm gas segment and still represents the cheapest investment opportunity for potential investors since its currently trading at a third of its currently appraised NAV!!!
These two ships represent the final two of a series of 10 gas carriers that the Vafias group has ordered for a total cost of abt $250 million at this same yard!

With these two ships the Vafias group fleet will grow to 62 ships comprising 38 gas carriers, 22 product and crude tankers and 2 capesize bulk carriers making it the 3rd largest group by number of ships in Greece. Moreover despite the huge group between 2008 and today with the deliveries of more than 26 nb’s at a cost of more than $1,5 billion the total debt of the group is below the usd 1 billion mark!
Source: Vafias Group
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