StealthGas: Ordering spree to cement position

Athens: In the eight months since Maritime CEO last contacted Harry Vafias, the head of Greece’s StealthGas has been very busy. In total Vafias has signed contracts for 15 newbuilds cementing his firm’s leading position in the LPG market.
 
“We control now the largest fully owned LPG fleet worldwide,” he says.
 
Of the 15 newbuilds 11 are being built in Japan and four in Korea making Vafias the largest foreign owner of ships under construction in Japan.
 
“When these deliver in 2014 and 2015 we will be able to offer to our charterers not only the largest fleet in the world but also the youngest and most technologically advanced LPG fleet,” he maintains.
 
StealthGas’s medium term business plans call for a doubling in fleet size to around 75 ships, a mix of LPG, tankers and a few bulkers.
 
“We want to continue to consolidate the LPG market, keep renewing our fleet and achieve 25% global market share in the pressurized LPG segment,” Vafias says.  [19/11/13]

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