StealthGas midsize LPG push comes with second joint venture

StealthGas' push into the mid-sized LPG market will take the form of a joint venture — its second in the last calendar year.

TradeWinds reported in January that the Harry Vafias-led, New York-listed gas carrier owner had agreed to buy three, 35,000-cbm ships from German shipowner Hartmann Reederei for $26.8m and a total of $80.4m.

Alongside its fourth-quarter results, StealthGas disclosed that the buy was part of a joint venture with an unnamed, unaffiliated third party and that it will have a 51% stake in the new outfit.