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Posted April 3, 2013 by Jessica Wright in Business
 
 

StealthGas to Explore US Market; Scope For Massive Profit

StealthGas to Explore US Market; Scope For Massive Profit
StealthGas to Explore US Market; Scope For Massive Profit

Reports and data reveal that the US exporters who are related to the liquefied petrol gas are prompting StealthGas Inc. to take back its tankers by approximately 13,500 miles in order to take the advantage of shortage of shipping in the global scenario.

Chief executive officer Harry Vafias stated in an interview that the owner who will be having the maximum number of LPG carriers will get to enjoy 25 percent of its fleet in the American market by the month of December, instead of the 15 percent current rate. The rise in the cargoes and the fuels used in devices such as lighters and stoves are presently exceeding the ship supply from regions of Gulf of Mexico towards the markets of South America, along with the Caribbean. Estimation by three analysts with regard to the data compiled by Bloomberg reveal that the shares of StealthGas which is an Athens based company holds the scope of making profit by 7 percent within one annual year.

In the last two decades, the US has become the maximum producer of crude oil; however the government only allows supply of refined oil and products, thus enhancing the demand for shipping fleets that are carrying all types of cargoes, ranging from the gasoline, butane to propane to name a few.  In the year of 2012, the LPG shipment of the nation got a high of 33 percent as per the data compilation by Energy Department. Vafias said that the tankers of StealthGas puts the gas under pressure, thus making it in liquid form to be carried in shipping as the US Coast Guards have permitted these vessels to be safe for domestic purpose in the month of June.

Vafias also says that a new market scenario has opened up for them recently. Until the month of June of last year, United States was not in their business map but suddenly the have the scope to utilize this opportunity. As there is no pressure ship available nearby any location of US, this company holds lucrative chance to make good profit. Reports show that the shares of StealthGas with its vessels of 37 carriers got doubled to approximately $11.99 within one past year and are expected to cross $12.83 within the next twelve months. The data compiled by Bloomberg however estimates that the company will be revealing a gain of 7 percent which counts to $25.9 million in this year and $33 million in the coming year of 2014.

The data from the company of StealthGas shows that they have 33 completely operational pressure vessels that can carry between 3,200 to 7,500 cubic meters of LPG, thus making for around 14 percent of the total market share. The speculation of Clarkson Plc of London feels that the rates for ships with capacity of 5,000 cubic meters with climb by 5.3 percent, counting to $300,000 per month.


Jessica Wright

 
Jessica Wright graduate of Northwestern University getting both Bachelor’s and Master’s Degrees in Broadcast Journalism. Jessica has been Senior Correspondent focusing on the impact of political decisions and office holders. Jessica is our seasoned investigative, political and community-oriented reporter and columnist whose work has won awards locally, statewide and nationally. Her awards have come from the National Federation of Professional Writers, the Ohio Newspaper Association, the Cleveland Press Club.