StealthGas announced the sale of its oldest ship and revealed a long line of period contracts in a rising market as it reported a fourth quarter loss today.

Nasdaq-listed StealthGas sold the 3,400-cbm Gas Ice (built 1991) in December in a deal that resulted in a modest $200,000 book loss, it confirmed today.

Michael Jolliffe, chairman of StealthGas, says the pressurized LPG market was challenging for the majority of last year but a late upturn saw the owner lock in a number of charters as rates increased.

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