STEALTHGAS INC. ALSO ANNOUNCES ENTRY INTO AN AGREEMENT TO ACQUIRE ITS FOURTH NEW M.R. TYPE PRODUCT CARRIER, THE DELIVERY OF THE GAS DEFIANCE, A 5,000 CBM RESALE LPG CARRIER, ON AUGUST 1, 2008, THE SALE OF THE GAS AMAZON IN NOVEMBER 2008, PLUS NEW CHARTER ARRANGEMENTS ON FIVE EXISTING VESSELS.
ATHENS, GREECE, September 11, 2008. STEALTHGAS INC. (NASDAQ: GASS) (the âCompanyâ), a ship owning company serving primarily the liquified petroleum gas (LPG) sector of the international shipping industry, announced today that it has ordered two new 156,000 deadweight Suezmax crude Oil Tankers with an option to order two additional such vessels. Delivery of the first vessel is expected in May-July 2011 and delivery of the second vessel in July-September 2011. If the Company exercises its option to construct the third and the fourth vessels, these will be delivered in the first and second quarters of 2012.