StealthGas to buy back remaining 49.9% share in vessel duo

Nasdaq-listed liquefied petroleum gas specialist StealthGas Inc has agreed in principle to purchase back from one of its joint venture partners the remaining share (49.9%), which it does not already own, in the two vessels Eco Lucidity and Gas Haralambos.

The Harry N. Vafias-led company said the transaction is subject to entry into definitive documentation and customary conditions and is expected to take place within June 2025.

As it is reported, these two vessels will be consolidated within the fully owned fleet of the company and only one vessel will remain in a joint venture.

Furthermore, StealthGas signed an agreement to sell the vessel Gas Cerberus to a third party, with delivery expected to take place in the second quarter of 2025. The vessel is debt-free, StealthGas said, adding that the full proceeds from the sale will contribute to the company’s liquidity position.

Meanwhile, the company announced the conclusion of three chartering arrangements (of three or more months duration).

StealthGas reported a twelve-month time charter for its 2016-built LPG carrier Eco Dominator, until Mar 2026, a twelve-month time charter extension for