StealthGas posted its biggest quarterly profit in seven years on Friday as it clinched period business to dodge falling spot rates amid the Covid-19 pandemic.
Bottom-line net income for the US-listed LPG carrier owner reached $8.9m in the second quarter, up from a loss of $180,000 in the same period last year.
“Our conservative strategy of striving to secure our fleet on period charters paid off,” StealthGas chairman Michael Jolliffe said in a news release.
