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Vafias family's private company Brave Maritime has spent more than $325m to acquire Gas Carriers, Bulkers and a Tanker

15 Ιουλίου 2021.

vafiasharrynikolasVafias family's continues to grow its fleet. Brave Maritime the private shipping company of the Vafias family orders at Hyundai Mipo another 40,000-cbm LPG ship bringing its orderbook there to five.

Brave Maritime inked its first newbuilding of fully refrigerated LPG carrier in February. Brave Maritime will pay more than $47m for each of the five ships it has ordered. The vessels are currently worth more than $50m, according to VesselsValue. The ships will be delivered in 2023.

Brave Maritime's orders reflect the confidence of company founder Nikolaos Vafias in modern gas carriers and in the role they have to play in the transition to carbon-free shipping. Two of the five newbuilding options Vafias ordered have an option for dual-fuel propulsion.

Brave Maritime has bought also this year the Japanese-controlled 104,600-dwt aframax Capricorn Voyager (built 2007) joined Brave Maritime's fleet in late June as Afrapearl. It acquired the ship for about $16.5m.

The company has been much keener to invest in Japanese-built bulkers as they bought four such handysizes early in the cycle, before a significant appreciation of the value of these ships.

Brave Maritime also acquired a fifth handysize the 33,300-dwt Grace Ocean (built 2013). The Shin Kurushima-built vessel is believed to have changed hands in early June for about $15.4m.

Across LPGs, bulkers and the aframax it bought, Vafias family’s spending bill is estimated to have exceeded the $300m this year.

StealthGas Inc, the family’s US-listed company is an international shipping transportation company specialized in the transportation of various petroleum and petrochemical gas products in liquefied form.

StealthGas Inc is the world’s largest owner of LPG pressurized carriers in the strategic 3,000-8,000cbm segment. They are hold the largest market share and they are currently expanding their leading position with a modern fleet.

Apart from LPG carriers, StealthGas also owns three modern M.R. Type Product Carriers and one Aframax oil tanker.

StealthGas Inc. has stated "Our primary goal is to expand our asset base in order to strengthen our market presence and enhance the value and profitability of our Company".

StealthGas Inc.’s shares are listed on the Nasdaq Global Select Market and trade under the symbol “GASS.”

With the latest acquisitions, the fleet of the Vafias Group has been expanded to 83 ships consisting of 50 gas carriers, 20 tankers and 13 bulk carriers.


















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