Five charters, one sale and leaseback and $6.8m share buyback at Stealthgas

Gas Cathar, a 2001-built, 7,517 cu m LPG carrier, was sold in late 2014 for net proceeds of $7m and subsequently bareboat chartered-back for four years.

A one-year time charter with a two-year extension option was secured for 2011-built Gas Myth, while the Gas Ice had its charter extended for one year. Three month charters were signed for the Gas Monarch and Eco Lucidity, and the Eco Corsair secured a three-month extension.

The latest batch of charters brings to 65% the company's contract coverage for 2015, with contracted revenues of $220m.

Stealthgas also announced progress on its $10m share buyback programme; the company has so far repurchased 1,075,078 shares for a total of $6.8m.