Tuesday, October 27, 2009

Harry N. Vafias

President, CEO

Harry N. Vafias - President, CEO and member of the Board of Directors. Mr. Vafias has been actively involved in the tanker and gas shipping industry since 1999. After graduating from City University Business School in the City of London in 1999 with a B.A. in Management Science and from Metropolitan University in 2000 with a Masters degree in Shipping, Trade and Transport, he commenced working at Seascope, a leading ship brokering firm specializing in sale and purchase of vessels and chartering of oil tankers. Mr. Vafias also worked at Braemar, a leading ship brokering firm, where he gained extensive experience in tanker and dry cargo chartering. Seascope and Braemar merged in 2001 to form Braemar Seascope Group plc, a public company quoted on the London Stock Exchange and one of the world''s largest ship brokering and shipping service groups. From 2000 until 2004, he worked at Brave Maritime and Stealth Maritime, companies providing comprehensive ship management services, where Mr. Vafias headed the operations and chartering departments of Stealth Maritime and served as manager for the sale and purchase departments of both Brave Maritime and Stealth Maritime.

Company Description: StealthGas Inc is a provider of international seaborne transportation services to LPG producers and users. Our vessels carry various petroleum and petrochemical gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of oil and natural gas. These products are transported in liquefied form in order to reduce their volume and to facilitate their handling. StealthGas currently owns 45 LPG carriers, which includes 40 currently under operation and 5 new buildings for delivery between 2009 and 2012. The average age of our LPG fleet is about 11.1 years at the end of 2009 compared to an industry average of 19 years and the total carrying capacity of the LPG fleet is 176,999 cbm. StealthGas ranks number 1 worldwide in owned vessels in the 3,000 to 8,000 cbm LPG carrier segment which is our strategic focus.

Transportation by sea represents a major element of gas transportation logistics. LPG products have a variety of both industrial and other uses, including transportation, fertilizer production, the manufacture of plastics, space heating, cooking, water heating and process heating. We serve industrial companies, as well as national and independent energy companies and energy traders.