Delivery of the 69,000-dwt panamax Reymar and the 45,800-dwt handymax Andromar, both Cyprus-flagged, take the New York-quoted company past the halfway mark in its 11-ship fleet renewal.
The fleet expansion is projected by Stelmar to increase its operating days by 24% this year and a further 9% in 2005.
Two more panamax tankers are due to be delivered and Stelmar says these have already been signed up to profitable time-charters with profit-sharing agreements.
