Stealthgas saw higher profit for the first quarter but is battening down the hatches just in case the Covid-19 pandemic comes back with a vengeance this winter.

The Harry Vafias-led owner of 50 tankers, including 41 LPG carriers, on Monday reported $3m in net income versus $2m a year earlier, amid high fleet utilisation and lower expenses.

The New York-listed company had its fleet employed 98% of the time due to most vessels being on charter, while costs came in lower than a year ago.