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Stealth secures another resale from Samsung

Athens: Stealth Maritime of Greece reports that it has purchased a second 115,000dwt tanker under construction at Samsung HI from Turkey's Cucurova Group controlled by the Karamehmet family. Like the other aframax bought from the same owner/yard it will be fixed back to Cucurova company Geden Lines for five years upon delivery in August.

Stealth has also fixed to Geden two more aframaxes, namely the CV Stealth and CS Stealth, which are finishing a long term contract to a subisidary of Petronas the state oil company of Malaysia. The total amount of charter hire to be received for all four ships from Geden for the next five years is approx $88m.

Stealth's tanker fleet now numbers 21 virtually new product and crude units with an average age of about two years. The latest deal is described as further solidifying "the already excellent relationship between the Vafias and Karamehmet (family) groups". [01/06/10]

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