Stealth Maritime concludes series of period charters

Stealth Maritime concludes series of period charters

Greece’s Stealth Maritime is celebrating concluding a series of period charters that keeps the majority of its fleet decently employed for the coming months and years.

In an email from the company, it was revealed the tanker firm’s commercial team has fixed 15 new tanker charters – seven bareboats and eight time charters in recent months.

The CEO of Stealth Maritime, Lambros Babilis commented: “We are extremely pleased to have secured employment for 75% of our fleet with first class charterers at a time where spot rates and ship values are declining. Our conservative strategy of fixing the majority of our tanker fleet on period employment combined with low leverage has shielded the company during the challenging periods and has provided stability of earnings and visibility for our shareholders and lenders.”

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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