Video Interview: Harry Vafias, StealthGas, Inc.
NEW YORK, May 10, 2012 (GLOBE NEWSWIRE) -- Veteran business journalist Carmen Roberts joins Harry Vafias, StealthGas, Inc. (GASS) [GASS] to discuss the company's industry, strategy, financials and positioning.
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About Harris Vafias
Harry Vafias founded Stealth Maritime Corp in 1999. Stealth Maritime Corp has invested approximately $1.2 billion between 2006-2009 for the renewal of the tanker fleet and today operates twenty-two 50,000 120,000 dwt modern double hull tankers, all under long term charters with oil companies and traders.
In 2004 he founded StealthGas, which was listed on NASDAQ in October 2005 and up to today has raised approximately $300m from the capital markets. StealthGas owns approximately 35 LPGs and 4 tankers and is the largest company, in number of vessels, in gas transportation worldwide.
In 2005 Harry Vafias founded Estates Corporation Inc, a real estate company, investing in Greece, London, New York, LA and Geneva.
In 2007 Vafias became CEO of the Vafias Group, which today is the fourth largest shipping group in Greece with 65 owned vessels.
In 2008 Harry Vafias was awarded by the NASDAQ for being the youngest CEO of a listed shipping company worldwide.
In 2010 Harry Vafias was elected vice chairman of the INTERTANKO Mediterranean panel. In the same year Harry Vafias was awarded the SEATRADE young person in shipping award.
About StealthGas, Inc.
StealthGas, Inc. is an international shipping transportation company specialized in the transportation of various petroleum and petrochemical gas products in liquefied form.
StealthGas currently owns 34 LPG carriers, which includes 33 currently under operation and 1 newbuilding for delivery in May 2012. The average age of our LPG fleet is about 10.1 years at the beginning of 2012 and the total carrying capacity of the LPG fleet today is 160,001 cbm. StealthGas ranks number one worldwide in owned vessels in the 3,000 to 8,000 cbm LPG carrier segment, which is our strategic focus.
Apart from LPG carriers, StealthGas also owns and operates three modern M.R. Type Product Carriers. Two ships, both 47,000 deadweight, were constructed and delivered to the Company in 2008 and operate under bareboat charters that run until January and February 2015, respectively. A third such vessel, deadweight 46,000 tons, was delivered to the Company following its construction in July 2009 and operates under a bareboat charter that runs until July 2016.
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Source: NASDAQ CEO Signature Series; StealthGas, Inc. 2012 GlobeNewswire, Inc.