Updated Fleet Profile and Fleet Deployment: The table below describes our fleet development and deployment as of today:
Vessel Vessel Monthly
Size Vessel Year Delivered Employment Charter Rate
(cbm) Type Built To GASS Status Expiration (1*) $
------------ ------ ---- ---- ------ ------------ ------- --------
CURRENT FLEET
(Initial Fleet plus Identified & Additional Vessels already delivered
to GASS)
------------ ------ ---- ---- ------ ------------ ------- --------
Gas Cathar 7,517 F.P. 2001 Oct-05 Time Charter Aug-07 355,000
------------ ------ ---- ---- ------ ------------ ------- --------
Gas Marathon 6,572 F.P. 1995 Nov-05 Bareboat Oct-07 220,000
------------ ------ ---- ---- ------ ------------ ------- --------
Gas Chios (8) 6,562 F.P. 1991 Oct-05 Time Charter Mar-07 300,000
------------ ------ ---- ---- ------ ------------ ------- --------
Gas Amazon 6,526 F.P. 1992 May-05 Time Charter Nov -07 252,500
------------ ------ ---- ---- ------ ------------ ------- --------
Gas Monarch 5,018 F.P. 1997 Dec-05 Time Charter Jun-07 295,000
------------ ------ ---- ---- ------ ------------ ------- --------
Gas Nemesis 5,016 F.P. 1995 Jun-06 Time Charter June-07 225,000
------------ ------ ---- ---- ------ ------------ ------- --------
Lyne (2) 5,014 F.P. 1996 May-06 Bareboat May-09 163,636
------------ ------ ---- ---- ------ ------------ ------- --------
Gas Emperor 5,013 F.P. 1995 Feb-05 Time Charter Jun-07 245,000
------------ ------ ---- ---- ------ ------------ ------- --------
Birgit Kosan 5,012 F.P. 1995 Apr-05 Bareboat Apr-07 190,000
------------ ------ ---- ---- ------ ------------ ------- --------
Catterick 5,001 F.P 1995 Nov-05 Time Charter Feb-07 300,000
------------ ------ ---- ---- ------ ------------ ------- --------
Sir Ivor (3) 5,000 F.P. 2003 May-06 Bareboat May-09 163,636
------------ ------ ---- ---- ------ ------------ ------- --------
Gas Sincerity 4,123 F.P. 2000 Nov-05 Time Charter Jul-07 245,000
------------ ------ ---- ---- ------ ------------ ------- --------
Gas Spirit 4,112 F.P. 2001 Dec-05 Time Charter Jun-07 250,000
------------ ------ ---- ---- ------ ------------ ------- --------
Gas Zael 4,111 F.P. 2001 Dec-05 Spot N/A N/A
------------ ------ ---- ---- ------ ------------ ------- --------
Gas Courchevel 4,109 S.R. 1991 Nov-04 Time Charter Jan-07 405,000
(6)
------------ ------ ---- ---- ------ ------------ ------- --------
Gas Prophet(9) 3,556 F.P. 1996 Oct-04 Bareboat Sep-09 110,000
------------ ------ ---- ---- ------ ------------ ------- --------
Gas Shangai 3,526 F.P. 1999 Dec-04 Time Charter Mar-07 194,000
------------ ------ ---- ---- ------ ------------ ------- --------
Gas Czar(4) 3,510 F.P. 1995 Feb-06 Time Charter Nov-07 171,250
------------ ------ ---- ---- ------ ------------ ------- --------
Gas Legacy 3,500 F.P. 1998 Oct-05 Time Charter Apr-07 250,000
------------ ------ ---- ---- ------ ------------ ------- --------
Gas Fortune(5) 3,500 F.P. 1995 Feb-06 Time Charter Dec-07 186,000
------------ ------ ---- ---- ------ ------------ ------- --------
Gas Eternity 3,500 F.P. 1998 Mar-06 Time Charter Mar-07 194,000
------------ ------ ---- ---- ------ ------------ ------- --------
Gas Artic 3,434 S.R. 1992 Apr-05 Bareboat Apr-09 190,000
------------ ------ ---- ---- ------ ------------ ------- --------
Gas Ice 3,434 S.R. 1991 Apr-05 Bareboat Apr-08 174,250
------------ ------ ---- ---- ------ ------------ ------- --------
Batangas 3,244 F.P. 1995 Jun-06 Bareboat Jul-08 106,000
------------ ------ ---- ---- ------ ------------ ------- --------
Gas Crystal 3,211 S.R. 1990 Nov-05 Spot N/A N/A
------------ ------ ---- ---- ------ ------------ ------- --------
Gas Oracle 3,014 F.P. 1990 Dec-05 Spot N/A N/A
------------ ------ ---- ---- ------ ------------ ------- --------
Gas Prodigy(7) 3,014 F.P. 1995 Oct-05 Time Charter Dec-07 180,000
------------ ------ ---- ---- ------ ------------ ------- --------
Gas Tiny 1,320 S.R. 1991 Oct-04 Time Charter Dec-06 120,000
------------ ------ ---- ---- ------ ------------ ------- --------
FLEET TOTAL 120,469
cbm
28 VESSELS
------------ ------ ---- ---- ------ ------------ ------- --------
-- F.P.: Fully-Pressurized
-- S.R.: Semi-Refrigerated
-- (1) To calculate daily rate divide by 30.4. All rates are quoted on a
gross basis and do not take into account chartering commissions
-- (2) Lyne is employed under a bareboat charter until May 2009 at the
rate of USD 163,636. Thereafter, at charterer's option, the bareboat
charter can be extended for a further one year at the rate of USD 171,717.
-- (3) Sir Ivor is employed under a bareboat charter until May 2009 at
the rate of USD 163,636. Thereafter, at charterer's option, the bareboat
charter can be extended for a further one year at the rate of USD 171,717.
-- (4) Gas Czar is employed until November 2006 at the rate of USD
171,250 per month. The rate for the 12 month period between December 2006
and November 2007 will be agreed upon no later than the commencement of the
charter extension for the 12 months and will range between a minimum of USD
190,000 and a maximum of USD 210,000.
-- (5) Gas Fortune is employed until December 2006 at the rate of USD
184,000 per month. Thereafter, Gas Fortune will be employed for a further
one-year period at the rate of USD 186,000 per month.
-- (6) Gas Courchevel is employed under a fixed time charter agreement
with an international gas trader for a period of three and a half to six
months, which commenced in late September 2006. For the first three and
half months the rate is USD 405,000 per calendar month. Thereafter, at
charterer's option, the charter can be extended for an additional two and
half months at the rate of USD 390,000 per calendar month.
-- (7) Gas Prodigy is currently employed under a fixed time charter
agreement expiring in December 2006 at the rate of USD 219,000 per calendar
month. Thereafter, its charter has been extended for an additional twelve-
month period at the rate of USD 180,000 per month.
-- (8) Gas Chios charter has been extended for an additional twelve-month
period at the rate of USD 252,500 per month. The charter will commence in
March 2007.
-- (9) Gas Prophet has for the three year duration of her bare boat
charter been renamed the M.T. Ming Long.
About STEALTHGAS INC.
Headquartered in Athens, Greece, STEALTHGAS INC. is a ship-owning company
serving the liquefied petroleum gas (LPG) sector of the international
shipping industry. STEALTHGAS INC. currently has a fleet of 28 LPG carriers
with a total capacity of 120,469 cubic meters (cbm). STEALTHGAS's shares
are listed on NASDAQ and trade under the symbol "GASS."
Forward-Looking Statement
Matters discussed in this release may constitute forward-looking
statements. Forward-looking statements reflect our current views with
respect to future events and financial performance and may include
statements concerning plans, objectives, goals, strategies, future events
or performance, and underlying assumptions and other statements, which are
other than statements of historical facts. The forward-looking statements
in this release are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without limitation,
management's examination of historical operating trends, data contained in
our records and other data available from third parties. Although
STEALTHGAS INC. believes that these assumptions were reasonable when made,
because these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to
predict and are beyond our control, STEALTHGAS INC. cannot assure you that
it will achieve or accomplish these expectations, beliefs or projections.
Important factors that, in our view, could cause actual results to differ
materially from those discussed in the forward-looking statements include
the strength of world economies and currencies, general market conditions,
including changes in charterhire rates and vessel values, changes in demand
that may affect attitudes of time charterers to scheduled and unscheduled
drydocking, changes in STEALTHGAS INC.'s operating expenses, including
bunker prices, dry-docking and insurance costs, or actions taken by
regulatory authorities, potential liability from pending or future
litigation, domestic and international political conditions, potential
disruption of shipping routes due to accidents and political events or acts
by terrorists.
Risks and uncertainties are further described in reports filed by
STEALTHGAS INC. with the US Securities and Exchange Commission.
Visit our website at www.stealthgas.com
Contact Information: Company Contact: Andrew J. Simmons Chief Financial Officer STEALTHGAS INC. 011-30-210-6250-001 E-mail: simmons@stealthgas.com Investor Relations/Media: Nicolas Bornozis Capital Link, Inc.(New York) Tel. 212-661-7566 E-mail: nbornozis@capitallink.com