Stealthgas acquires two newbuilding LPG vessels, bring total assets to ~$1B

Stealthgas (GASS) announces the acquisition of two newbuilding LPG vessels as part of its fleet expansion program, which will bring the total number of LPG carriers to be delivered from March 2014 to Aug. 2015 to 17 for a total cost of ~$345M and the total value of all assets including to ~$1B.

With chartering arrangements, total charter coverage for the current fleet is raised to 75% for 2014 and 41% for 2015.

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