StealthGas Inc.
StealthGas Inc. is a ship-owning company focused on liquefied petroleum gas (LPG) transportation in the international seaborne trade. Through its owned fleet of LPG carriers and related subsidiaries, it provides marine transportation services under long-, medium-, and short-term charters.
Tilikausi 2025 · muutos edellisvuodesta
Kehitys 2020–2025
Liiketoiminta
Osuus liikevaihdostaTransportation of liquefied petroleum gas cargoes on chartered voyages and time charters.
Ownership and commercial deployment of LPG vessels through the company fleet.
Tuotteet
Raportoitu · osuus liikevaihdosta- Time Charter78,1 %
- Voyage Charter18,2 %
- Other Income Revenues3,8 %
Lähde: 20-F FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.
Asiakkaat
StealthGas serves charterers that need seaborne LPG transport capacity, including energy traders, commodity shippers, industrial gas users, and other shipping counterparties. Revenue depends on vessel employment under long-, medium-, and short-term charter arrangements, so customers buy shipping capacity rather than a manufactured product. The business is concentrated in the international LPG shipping market, where charterers value fleet availability, vessel size, and reliable delivery schedules.
Buy vessel capacity for transporting liquefied petroleum gas cargoes across sea routes.
Use chartered LPG vessels to move traded cargoes between supply and demand markets.
Need reliable LPG shipping to support feedstock and distribution logistics.
Participate in vessel ownership or employment structures for selected ships.
Strategia
StealthGas’s strategy centers on keeping an LPG carrier fleet employed across a mix of charter durations and counterparties. Vessel ownership, selective joint ventures, and fleet renewal or deployment choices are used to maintain commercial access to the international LPG shipping market.
The business is driven by how much of the fleet is on hire and generating charter revenue.
Specialized vessels must stay aligned with global LPG trade routes and counterparties.
Fleet composition affects competitiveness, operating flexibility, and residual value risk.
Maantiede
StealthGas operates globally, with its vessels providing worldwide marine transportation services rather than serving a single domestic market. The company is U.S.-listed but organized through an international ship-owning structure, with vessels managed through a related-party manager registered in Greece and a fleet deployed across international routes. Its business is therefore exposed to global LPG trade flows, charter demand, and port/network conditions across multiple regions.
Riskit
StealthGas is exposed to shipping-cycle volatility, charter-rate swings, and counterparty concentration because revenue depends on vessel employment in the LPG market. The company also faces asset-impairment risk on its fleet, since vessel values and future cash flows can change with market conditions. As a ship owner operating internationally, it is additionally exposed to geopolitical, regulatory, and operational risks affecting trade routes, ports, and vessel utilization.
- Charter market volatilityVaikutus: KorkeaTodennäköisyys: Korkea
Revenue depends on the availability and pricing of LPG charter employment.
Kohdistuu: Fleet utilization and charter renewals
- Vessel impairment riskVaikutus: KorkeaTodennäköisyys: Kohtalainen
Long-lived shipping assets are tested against future cash flows and market values.
Kohdistuu: Owned LPG carriers
- Geopolitical and trade disruptionVaikutus: KorkeaTodennäköisyys: Kohtalainen
International marine transport is sensitive to sanctions, port access, and routing changes.
Kohdistuu: Worldwide shipping lanes
- Customer concentrationVaikutus: KeskitasoTodennäköisyys: Korkea
A few charterers accounted for 10% or more of revenues in recent years.
Kohdistuu: Large charter counterparties
Kirjanpito
Harkinnanvaraiset erätVessels are tested for recoverability when indicators exist; losses can be significant if market values fall.
Vaikutus: Can create non-cash impairment charges and reduce asset values.
Revenue arises from chartered vessel services, so contract terms affect the timing and pattern of recognition.
Vaikutus: Affects quarterly comparability and reported revenue stability.
The company recognizes its share of JV results, which can change with vessel sale or operating outcomes.
Vaikutus: Adds volatility to non-operating income.
Samankaltaisia listattuja yhtiöitä
Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.
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Päivitetty: 28.9.2026