stealthgas back in black but CEO cautious on virus

摘要

Greek LPG shipowner Stealthgas returned to proft last year after a difcult 2018, while an optimistic 2020 outlook is being clouded by the coronavirus outbreak. The New York-listed company, which owns a feet of 46 LPG carriers — four Handysize, four midsize and 38 coasters — and four oil tankers made a proft of $2.1mn in 2019 compared with a loss of $12.3mn a year earlier. It also swung to a proft of $531,000 in the fourth quarter from a $5.3mn loss in the same period of 2018. “We achieved a feet utilisation of 98pc last year, increased our daily time charter equivalent earnings and managed to signifcantly reduce our fnance costs, despite a persistently difcult spot market in Asia,” Stealthgas chairman Michael Jollife says.