Hot on the heels of a $70.7m sale of four 5,000-cbm LPG ships, StealthGas is said to be shaking off another pair of such vessels at a robust price.
Market sources reported that the Harry Vafias-led company has agreed to part with the 5,000-cbm sister ships Eco Dream and Eco Green (both built 2015).
They are believed to have gone in an en-bloc deal for $35.35m combined.
US brokers reported that Athens-based StealthGas agreed on the transaction on private terms with unidentified Far Eastern buyers.
New York-listed StealthGas does not discuss commercial matters outside public announcements.
A sale, however, would be in line with a communicated strategy to rejig its fleet of about 30 ships towards bigger vessels, through a combination of sales and newbuilding orders.
The owner has disposed of several small LPG ships in previous quarters, as part of a fleet renewal policy in which it will take delivery of a trio of 40,000-cbm newbuildings this year and next.
In the latest such sale officially announced, StealthGas divested four 5,000-cbm vessels to Toro Corp — a Greek peer looking to break into the gas carrier business.
The Eco Dream and Eco Green deal, however, stands apart.
The two ice-class vessels are the only LPG carriers of their size to be equipped with three chiller units on each cargo compressor to maintain constant cargo temperature in the tanks.
They are due to be delivered to their new owner next January. That chimes with information in StealthGas’ latest company presentation, according to which the Eco Dream is on a charter expiring in December this year.
The duo’s reported sale price of about $17.7m each represents a good exit point for StealthGas, which is believed to have spent $19.8m apiece when it ordered them at STX Offshore & Shipbuilding 11 years ago.
The company communicated to investors in May that it would probably sell some ships at profitable prices over the following months.
Despite a smaller fleet from the ship sales it has already concluded, StealthGas posted record annual profit of $34.3m last year.
Boosted by robust gas carrier markets and a lucrative ship sale, it followed up with a record first-quarter profit of $16.8m.
