Charterers become more confident

StealthGas, which operates ships that transport liquefied petroleum gas, reported second-quarter profit above market estimates, helped mainly by lower expenses. For the quarter, the Greek company posted a net income of $6.5 million, or 29 cents a share, compared with $9.4 million, or 42 cents per share, a year earlier. Analysts on average had expected StealthGas to post a profit of 28 cents per share for the quarter. ‘I am also pleased to report that in the past few weeks we have seen some recovery in charterers’ confidence and we have managed to secure profitable period business to highly reputable charterers,’ StealthGas CEO Harry Vafias said in a statement. Net income for the three months was 33 cents a share. Voyage revenue fell 5 percent to $27.1 million.